USA v. Scherr et al
Case Number:
3:19-cr-00225
Court:
Nature of Suit:
Judge:
Firms
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August 05, 2021
Ex-Private Equity Exec Gets 5 Years For Raiding Insurers
The former chief financial officer at private equity firm Southport Lane who admitted to a scheme to swap insurers' assets for inflated securities was sentenced to five years in prison and ordered to pay $286,328,056 in restitution Wednesday, according to a Texas federal court filing.
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June 14, 2021
Finance Whiz Gets Prison For Role In Bogus $50M Transaction
A Manhattan federal judge sentenced a structured finance expert from New York City to 18 months in prison Monday for helping his then-private equity concern buy a Texas insurer for $50 million using fraudulently overvalued assets.
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January 06, 2020
Ex-Private Equity Exec Will Cop To Raiding Insurers
The former chief financial officer at private equity firm Southport Lane will admit to a scheme to swap insurers' assets for inflated securities, according to a plea agreement filed in Texas federal court on Monday.
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May 02, 2019
Ex-Private Equity Execs Indicted Over 9-Figure Fraud
Two former executives for private equity holding company Southport Lane LP have been hit with conspiracy and wire fraud charges for their alleged part in an investment scheme that ripped off insurance companies for hundreds of millions of dollars, the U.S. Department of Justice announced Thursday.