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Financier Tilton defeats lawsuit by Zohar funds she founded

NEW YORK, Dec 29- Lynn Tilton, the colorful New York financier recently cleared of wrongdoing in a U.S. Securities& Exchange Commission fraud case, won another legal victory on Friday as a federal judge dismissed a racketeering lawsuit by the Zohar investment funds she once managed. District Judge William Pauley in Manhattan said the alleged misconduct by...

Source: Reuters

Lynn Tilton to appeal decision that takes away control of her portfolio companies

On Friday, a Delaware court backed a bid to oust Tilton – who controls dozens of companies — from control of some of the companies she runs.

Source: CNBC.com

'Big Short' adviser loses appeal in SEC case

The 2nd U.S. Circuit Court of Appeals in Manhattan on Friday said federal judges lacked jurisdiction to decide whether the SEC deprived Wing Chau and his firm Harding Advisory LLC of equal protection by pursuing an in-house administrative proceeding instead of suing in federal court. In January 2015, an SEC administrative law judge ordered Chau and Harding...

Source: Reuters

SEC fraud trial of 'Diva of Distressed' Tilton wraps up

During his closing argument in a Manhattan courtroom, Tilton's lawyer Randy Mastro expressed anger that the SEC had accused the founder of Patriarch Partners of fraud, given what he called the lack of evidence presented at trial. He said that after a seven-year investigation, the SEC presented testimony from only a handful out of the dozens of investors at...

Source: Reuters

'Diva of Distressed' Tilton takes stand in SEC fraud trial

Tilton, the founder of private equity firm Patriarch Partners, told an SEC administrative law judge in Manhattan that investors were routinely provided information allowing them to know what steps she was taking with regard to those companies. The SEC has accused Tilton of defrauding investors in the three collateralized loan obligation funds by...

Source: Reuters

Wall Street exec defends herself against fraud allegations

NEW YORK— A Wall Street executive who developed a reputation for reversing the fortunes of distressed companies on Tuesday disputed the government's portrayal of her as a powerbroker who cheated investors out of more than $200 million. When questioned by an SEC lawyer, Tilton said she made it clear to investors that their gains would come through interest,...

Source: The Associated Press

UPDATE 1-Judge orders Lynn Tilton to turn over Zohar loan fund documents

WILMINGTON, Del., Oct 26- A Delaware judge on Wednesday ordered Lynn Tilton's Patriarch Partners to turn over documents detailing the complex holdings of $2.5 billion distressed debt funds that the embattled investor lost control of this year. However, one of the Zohar funds defaulted last year and Tilton's Patriarch Partners investment firm stepped down as...

Source: Reuters

SEC, 'Diva of Distressed' Tilton face off in fraud trial

At the start of a trial in Manhattan, Randy Mastro, Tilton's lawyer, told an administrative law judge that the founder of New York- based Patriarch Partners did not defraud investors, who were instead well aware of her investment strategy. He urged SEC Administrative Law Judge Carol Fox Foelak to force Tilton, 57, and Patriarch Partners to pay at least $200 million...

Source: Reuters

SEC seeks takedown of prominent Wall Street executive Tilton

NEW YORK— Prominent Wall Street executive Lynn Tilton cheated investors in failing companies of more than $200 million and should be banned from the industry, a government lawyer told a judge on Monday before her attorney belittled the Securities and Exchange Commission's claims. SEC senior trial counsel Dugan Bliss said Tilton and her New York- based...

Source: The Associated Press