Supreme Court rules SEC can recoup money in fraud cases
Criminal Law
The Supreme Court on Monday preserved an important tool used by securities regulators to recoup ill-gotten gains in fraud cases.
By an 8-1 vote, the justices ruled that the Securities and Exchange Commission can seek to recover the money through a process called disgorgement. Last year, the SEC obtained $3.2 billion in repayment of profits from people who have been found to violate securities law.
“The Court holds today that a disgorgement award that does not exceed a wrongdoer’s net profits and is awarded for victims is equitable relief permissible" under federal law, Justice Sonia Sotomayor wrote for the court.
Justice Clarence Thomas dissented. The Supreme Court in 2017 unanimously limited the SEC’s ability to go after profits where alleged fraud has been going on for years before authorities file charges. That case left open the question the high court answered Monday, that courts have the authority to order disgorgement of profits. The SEC has continued to aggressively pursue defendants’ profits in fraud cases.
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How do you qualify for workers compensation in Illinois?
The Workers’ Compensation Statute protects every employee in the State of Illinois.
A victim of a work-related injury or illness is eligible for many forms of compensation including reasonable medical care required to cure or relieve the impact of the injury, lost time from work, and any temporary or permanent disability.
Illinois Workers’ compensation is a system of benefits that:
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Employers in Illinois are required to purchase workers’ compensation insurance for their employees and the insurance companies fund the payment of worker’s compensation benefits for employees’ claims. In the event of a dispute, the Illinois Workers’ Compensation Commission (IWCC, or the Commission) enforces the state’s worker’s compensation laws and protects worker rights.