Former Cowen managing director Pollet ordered to pay disgorgement

By Sheri Kasprzak

New York, Dec. 13 - The Securities and Exchange Commission said Wednesday that SG Cowen & Co., LLC managing partner Guillaume Pollet was ordered to pay disgorgement and civil penalties related to charges of insider trading.

The order was issued, according to a statement Wednesday from the SEC, without Pollet admitting or denying charges of short selling shares in PIPE offerings from 2001.

The U.S. District Court for the Eastern District of New York ordered Pollet to repay sums allegedly received from short selling securities in private placement offerings during 2001. He was also ordered to pay civil penalties and pre-judgment interest.

In addition, Pollet has been barred from associating with any broker or dealer in the future.

The news comes on the heels of other fraud charges leveled by the SEC against Gryphon Partners and hedge fund manager Edwin "Bucky" Lyon, IV.

The SEC, in that case, alleges that Lyon and Gryphon engaged in insider trading related to at least 35 PIPE offerings between 2001 and 2004.

Neither Lyon nor Gryphon returned requests for comment on the allegations by press time Wednesday.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.