March 20, 2018 / 4:33 PM / in a year

Former F-Squared CEO must pay $12.4 mln in SEC case: U.S. judge

BOSTON, March 20 (Reuters) - 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 $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)

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