Updates to our Terms of Use

We are updating our Terms of Use. Please carefully review the updated Terms before proceeding to our website.

Tuesday, May 21, 2024 | Back issues
Courthouse News Service Courthouse News Service

$125,000 for Misrepresenting Assets

MANHATTAN (CN) - Three executives at KCAP Financial agreed to pay a total of $125,000 to settle SEC charges of overstating the fund's assets during the financial crisis.

CEO Dayl Pearson, 57, of Locust Valley, will pay $50,000; former CFO Michael Wirth, 54, of Scarsdale, a CPA, will pay $50,000; and R. Jonathan Corless, 60, of Pound Ridge its chief investment officer, will pay $25,000, the SEC said.

Categories / Uncategorized

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.