Longfin Corp. CEO Venkata S. Meenavalli agreed to pay $400,000 to resolve a fraud action brought by the Securities and Exchange Commission against him.
- Settlement concludes SEC actions against Longfin, its CEO, and three other individuals; regulator has secured over $26m of “ill-gotten gains”: SEC statement
- Settlement remains subject to court approval
- SEC to establish a fund to distribute money received from the defendants to harmed investors
- NOTE:
Longfin Must Pay SEC $6.8 Million After Default Judgment
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