{"id":83190,"date":"2022-11-22T00:14:52","date_gmt":"2022-11-22T05:14:52","guid":{"rendered":"https:\/\/www.hedgeco.net\/news\/?p=83190"},"modified":"2022-11-22T00:06:07","modified_gmt":"2022-11-22T05:06:07","slug":"sec-obtains-final-judgments-against-two-family-office-executives-charged-with-insider-trading","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/11\/2022\/sec-obtains-final-judgments-against-two-family-office-executives-charged-with-insider-trading.html","title":{"rendered":"SEC Obtains Final Judgments Against Two Family Office Executives Charged with Insider Trading"},"content":{"rendered":"\n<p>(HedgeCo.Net) The United States District Court for the Southern District of New York has entered a final consent judgment against <strong>Charles Rustin<\/strong> &#8220;Rusty&#8221; <strong>Holzer<\/strong>, a manager of a family office, whom the SEC <a href=\"https:\/\/www.sec.gov\/litigation\/litreleases\/2022\/lr25545.htm\">previously charged<\/a> with insider trading. On October 28, 2022, a final consent judgment was entered against Fernando Moraes, the former Chief Operating Officer of Holzer&#8217;s family office, who was also <a href=\"https:\/\/www.sec.gov\/litigation\/complaints\/2022\/comp25545-moraes.pdf\">previously charged<\/a> with insider trading.<\/p>\n\n\n\n<p>The SEC&#8217;s complaints, filed on September 30, 2022, alleged that Holzer and Moraes traded in options of Dun &amp; Bradstreet Corp. (NYSE: DNB) based on material nonpublic information ahead of the company&#8217;s August 8, 2018 announcement that it had agreed to be acquired by a private investor group at a price of $145 per share, realizing ill-gotten profits of $96,091 and $8,842, respectively. The SEC alleged that Holzer and Moraes learned about the pending acquisition from a member of the investor group pursuant to a non-disclosure agreement, and that in addition to trading for themselves, Holzer and Moraes unlawfully tipped two other traders who realized profits of $672,000 and $65,332, respectively.<\/p>\n\n\n\n<p>On October 4, 2022, Holzer consented, without admitting or denying the SEC&#8217;s allegations, to a judgment in which he was permanently enjoined from violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and barred from acting as an officer or director of a public issuer. The final judgment entered on November 14, 2022 orders Holzer to pay disgorgement of $91,509 plus prejudgment interest of $14,217.67 and a civil penalty of $763,509.<\/p>\n\n\n\n<p>Without admitting or denying the allegations, Moraes consented to the entry of a final consent judgment that permanently enjoins him from violating Section 10(b) and Rule 10b-5 of the Securities Exchange Act, orders him to pay disgorgement of $8,842 plus prejudgment interest of $1,647, and a civil penalty of $48,646, and bars him from acting as an officer or director of a public issuer.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(HedgeCo.Net) The United States District Court for the Southern District of New York has entered a final consent judgment against Charles Rustin &#8220;Rusty&#8221; Holzer, a manager of a family office, whom the SEC previously charged with insider trading. On October [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3,16048],"tags":[],"class_list":["post-83190","post","type-post","status-publish","format-standard","hentry","category-hedgeco-networks-press-releases","category-hedgeco-news","category-hedgecovest-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/83190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=83190"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/83190\/revisions"}],"predecessor-version":[{"id":83191,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/83190\/revisions\/83191"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=83190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=83190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=83190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}