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Univ. of Toledo College of Law

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Monday, August 4, 2008

ALJ Finds Broker Gave Cash Kickbacks to New Mexico State Treasurer

On July 28 an Administrative Law Judge issued an Initial Decision in the matter of Guy P. Riordan finding that Guy P. Riordan (Riordan) violated the antifraud provisions of the federal securities statutes by giving cash kickbacks to the State Treasurer of New Mexico for securities transactions by the Treasurer's Office, and by participating in what he knew to be a non-competitive bidding process in the period 1996 through 2002. Based on the findings of illegal conduct and public interest factors, Chief Administrative Law Judge Brenda P. Murray has barred Riordan from association with any broker or dealer; ordered him to cease and desist from committing future violations; ordered him to disgorge $1,017,278.78, and prejudgment interest in the amount of $699,804.18; and ordered him to pay a civil money penalty in the amount of $500,000. The amount of disgorgement and civil money penalties shall be collected and placed in a Fair Fund and used for the benefit of the Treasurer's Office of the State of New Mexico that was harmed by the violations found in this decision.

http://lawprofessors.typepad.com/securities/2008/08/alj-finds-broke.html

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IS GUY RIORDAN OF NEW MEXICO AN FBI INFORMANT WHY NO TRIAL HE ROBBED THE STATE OF NEW MEXICO AND THE PUBLIC

Posted by: INVESTIGATORJ | Jan 15, 2009 6:08:07 AM

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