Investment Fraud

The SEC on Wednesday charged George L. Taylor, 61, CEO of Temenos Advisory, both of Litchfield, Conn., with steering $19 million of investors’ money into risky, unsuitable investments and hiding commissions he took on top of advisory fees, “grossly overbill(ing)” them, in federal court.

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‘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.

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