A federal judge has ordered purported investment bank World
Capital Markets and several related companies to pay an $88
million disgorgement of profits allegedly earned in a worldwide
pyramid scheme shut down by the U.S. Securities and Exchange
Commission in 2014.
The order last Wednesday by U.S. District Judge John Walter
in Los Angeles also calls for World Capital to pay a civil
penalty, with the amount to be determined later. The defunct
company consented to the judgment without admitting wrongdoing.
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