Fraud Disgorgement by SEC Ruled OK

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized.

In an 8-to-1 decision, written by Justice Sonia Sotomayor, the court said the money must be for the benefit of investors and cannot exceed the actual profits that came from the wrongdoing.  Questions: Which justice voted against the majority saying that the law does not give authority to the SEC for the practice of disgorgement?… Read more »