Paul Bilzerian has been avoiding a US$62 million SEC penalty since 1989. He says he’s been wrongly penalized.
Paul Bilzerian lives in voluntary exile on the Caribbean island of St. Kitts. He’s been avoiding a US$62 million SEC penalty since 1989, reports the Wall Street Journal.
Bilzerian allegedly committed securities fraud. The fine is a civil court judgment. The SEC has managed to collect $3.7 million of it, but the work involved cost the commission $8.6 million. The regulator is winding down its efforts to get Bilzerian to pay up.
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