A court-appointed receiver has finished recovering and redistributing assets to investors defrauded by Rex Venture Group LLC between January 2011 and August 2012.
Judge Graham C. Mullen of the US District Court for the Western District of North Carolina entered final judgment against RVG on Monday. The judgment accounts for over $817 million, representing about $548.5 million in investors’ losses plus about $269 million in interest accrued since the SEC’s original filing.
The SEC filed an emergency action against RVG in August 2012 to stop sales of allegedly fraudulent and unregistered securities. In its complaint, the SEC also alleged that ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.