An trader involved in a biodiesel stock fraud scheme is stuck paying a nearly $1.6 million SEC fine after the Seventh Circuit ruled the lower court properly considered his cooperation with the investigation.
Gary Williky argued that the district judge’s imposition of the fine “ignore[d] his cooperation as a whistleblower,” the U.S. Court of Appeals for the Seventh Circuit said. But the lower court “adequately assessed the value” of his cooperation with the Securities and Exchange Commission and other agencies when it set the fine amount, Judge William J. Bauer’s Nov. 8 opinion said.
The SEC pursued Williky for...
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November 13, 2019 at 12:18AM
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Trader's $1.6 Million SEC Fine in Biodiesel Insider Case Upheld - Bloomberg Law
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