{"id":5878,"date":"2015-12-02T00:00:00","date_gmt":"2015-12-02T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2015\/12\/exjp_morgan_bankers_to_settle"},"modified":"2022-05-06T16:05:40","modified_gmt":"2022-05-06T21:05:40","slug":"exjp-morgan-bankers-to-settle","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/exjp-morgan-bankers-to-settle\/","title":{"rendered":"Ex-J.P. Morgan Bankers to Settle SEC\u2019s $8.2M Bribery Case Related to Jefferson County, Alabama Bonds"},"content":{"rendered":"

Douglas MacFaddin and Charles LeCroy will pay $326,373 to settle SEC civil charges accusing them of paying friends of Jefferson County, Alabama officials $8.2M in return for $5B in county bond business. Together, the ex-J.P. Morgan Securities (JPM) <\/a>executives will pay $326,373 once a district court judge approves the proposed settlements\u2014that\u2019s 4% of the $8.2M that was allegedly paid so that their firm could get the business.<\/p>\n

Jefferson Count experienced financial woes when it borrowed funds so it could comply with a 1996 court order to stop sewer leaks from getting into area streams. Additional construction costs and bond swaps cost the project to exceed over $3B.<\/p>\n

The Commission\u2019s lawsuit had alleged violations of its law and rules. The regulator\u2019s charges against the two men were resolved in mediation.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Douglas MacFaddin and Charles LeCroy will pay $326,373 to settle SEC civil charges accusing them of paying friends of Jefferson County, Alabama officials $8.2M in return for $5B in county bond business. Together, the ex-J.P. Morgan Securities (JPM) executives will pay $326,373 once a district court judge approves the proposed settlements\u2014that\u2019s 4% of the $8.2M […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3958,3922],"tags":[],"class_list":["post-5878","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-jp-morgan-chase","category-municipal-bonds"],"yoast_head":"\nEx-J.P. Morgan Bankers to Settle SEC\u2019s $8.2M Bribery Case Related to Jefferson County, Alabama Bonds — Investor Lawyers Blog — December 2, 2015<\/title>\n<meta name=\"description\" content=\"Douglas MacFaddin and Charles LeCroy will pay $326,373 to settle SEC civil charges accusing them of paying friends of Jefferson County, Alabama officials — December 2, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/exjp-morgan-bankers-to-settle\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Ex-J.P. 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