‘Extravagant Lifestyle’

The SEC on Monday charged former Energy XXI CEO John D. Schiller Jr. with maintaining his “extravagant lifestyle” by hiding more than <a href="http://www.courthousenews.com/wp-content/uploads/2018/07/SEC.Schiller.pdf"><strong>$10 million in personal loans</strong></a> he got from company vendors and a candidate for Energy XXI’s board, and separately charged Norman M.K. Louie, a portfolio manager at co-defendant Mount Kellett Capital Management, with hiding a <a href="http://www.courthousenews.com/wp-content/uploads/2018/07/SEC.Louis_.pdf"><strong>$3 million loan</strong></a> to Schiller just before he was appointed to Energy XXI’s board.

HOUSTON – The SEC on Monday charged former Energy XXI CEO John D. Schiller Jr. with maintaining his “extravagant lifestyle” by hiding more than **$10 million in personal loans he got from company vendors and a candidate for Energy XXI’s board, and separately charged Norman M.K. Louie, a portfolio manager at co-defendant Mount Kellett Capital Management, with hiding a $3 million loan to Schiller just before he was appointed to Energy XXI’s board.

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