Nearly two
decades ago, Mike Nardino settled to pay back $177,317 in illicit profits from insider
trading.
Defendants
Anthony Capricuso and Michael Nardino settled the case, without admitting or
denying the allegations of the Commission's complaint, by consenting to entry of
final judgments that permanently enjoin them from violating Exchange Act
Sections 10(b) and 14(e) and Rules 10b-5 and 14e-3, and that order them to
disgorge illicit trading profits of $301,447 and $177,317, respectively, plus
prejudgment interest. Based on their demonstrated inability to pay, the
disgorgement obligations of both Capricuso and Nardino were waived and no civil
monetary penalties were imposed against them.
Then he
demonstrated his inability to pay by taking his name off of everything,
including his house.
The Lodi
politicians don’t take personal responsibility for things today (Drug Alliance
funding, unethical BOE votes, etc…) because they got away with so much in the past.