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Thursday, April 18, 2024 | Back issues
Courthouse News Service Courthouse News Service

‘Extravagant Lifestyle’

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.

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.

Categories / Securities

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