A New York judge ordered Fairfield resident Michael W. Crow and the investment bank he led to pay more than $8 million in reparations and penalties.
Federal judge Colleen McMahon entered judgment against Crow, New York City-based Duncan Capital L.L.C. and Crow”™s business partner Robert D. Fuchs of New Rochelle, N.Y.
The court ruled Crow controlled Duncan Capital”™s investment banking activities in 2003 and 2004, years after the Securities and Exchange Commission barred Crow from such a role following an investigation into allegations of insider trading by Crow while he was chairman of California-based Wilshire Technologies.
Duncan Capital managed more than 20 private investments in small-cap public companies, raising more than $100 million in capital for the companies.
