Former F-Squared CEO must pay US$12.4 million in SEC case: US judge

Former F-Squared CEO must pay US$12.4 million in SEC case: US judge

FILE PHOTO: Former F-Squared Investments Inc CEO Howard Present (center), arrives at the federal court in Boston, Massachusetts, U.S. September 7, 2017.
REUTERS/Nate Raymond - RC1A41704C80
BOSTON: The former chief executive of F-Squared Investments Inc, once the largest U.S. money manager creating portfolios out of exchange-traded funds, must pay US$12.4 million for making false statements to investors, a federal judge ruled on Tuesday.U.S. District Judge Leo Sorokin in Boston issued the order after a federal jury in October found that former F-Squared CEO Howard Present recklessly touted the history of his company's flagship investment product.(Reporting by Nate Raymond in Boston)
Source: Reuters
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