Jackie Robinson Memorabilia Fraudster, Firm Must Pay $70 Million

Collector’s Coffee Inc. and its principal must pay the SEC about $70 million for misconduct toward investors in a case over the startup’s claimed ownership of Jackie Robinson sports memorabilia, a federal court ruled.

CCI and its founder Mykalai Kontilai are jointly obliged to pay nearly $22 million in disgorgement and $2.4 million in prejudgment interest, less any money paid in restitution in a related criminal case, Judge Victor Marrero said Monday for the US District Court for the Southern District of New York. Further, CCI and Kontilai must pay more than $23 million—each—in civil penalties for the fraud, Marrero ...