EquiAlt CEO Owes SEC $27 Million After Settling Ponzi Claims

The CEO of EquiAlt LLC will hand over cars, coins, and real estate after a federal judge in Florida approved a deal to resolve SEC allegations he took part in a $170 million Ponzi scheme.

Brian Davison agreed to pay the Securities and Exchange Commission more than $27 million in disgorgement, interest, and fines, which will be deemed satisfied if he gives up a laundry list of assets within 30 days, the U.S. District Court for the Middle District of Florida said.

Davison in March lost a bid to throw out the agency’s case against him. The SEC accused ...