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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.

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