Billionaire Tilton vows to fight fraud charges Lynn Tilton, one of the richest self-made women in America, has vowed to fight fraud charges brought by the SEC, calling it a battle between "good and evil."
| By: Robert Frank
SEC files fraud charges against Lynn Tilton, firms The SEC said Tilton and the firms have misled investors since 2003 and wrongly collected nearly $200 million in fees and other payments. The case will be heard before an administrative law judge at the SEC. The SEC action against Tilton represents an example of government regulators enforcing the fiduciary standard for investment advisers.
Source: The Associated Press
UPDATE 1-U.S. SEC accuses financier Lynn Tilton of defrauding investors The Securities and Exchange Commission said that Tilton and private equity business Patriarch Partners were able to collect almost $200 million in fees by failing to properly value the assets in the funds through the methodology described to investors. "We are disappointed that the SEC has chosen to bring an enforcement action that is ill-founded and at...
| By: Sarah N. Lynch
U.S. SEC accuses financier Lynn Tilton of defrauding investors WASHINGTON, March 30- U.S. regulators took aim at financier Lynn Tilton and her advisory business on Monday, saying she breached her fiduciary duty to investors by hiding the poor performance of loans underlying three collateralized loan obligations. The Securities and Exchange Commission said that Tilton and Patriarch Partners were able to collect almost...