1 Global Capital’s Carl Ruderman Consents To Judgment With The SEC

| By:
 FEATURE STORY 


Update 10/4/19: According to the docket, Ruderman has satisfied the judgment in full, with only the sale of his condo remaining.

CourtroomThe SEC’s lawsuit against Carl Ruderman, the former CEO of Hallandale Beach-based 1 Global Capital, has come to an end. He has consented to judgment in a settlement and the penalties are devastating, papers filed on friday with the Court show.

Specifically, Ruderman is liable for disgorgement of $32,587,166 representing profits gained as a result of the conduct alleged together with prejudgment interest on disgorgement of $1,517,273 and a civil penalty of $15,000,000. He must also sell his Condominium and disgorge 50% of the equity. Online real estate websites estimate his property to have 5 bedrooms, 8 bathrooms, and be worth in the range of $5,000,000 – $6,000,000.

1 Global Capital filed for bankruptcy last year after its business was hampered by investigations being conducted by the SEC and US Attorney’s Office. The SEC brought its case against Ruderman and his company a month later and alleged that it “fraudulently raised more than $287 million from more than 3,400 investors to fund its business offering short-term financing to small and medium-size businesses.” The investments were alleged to be unregistered securities and that millions of the funds raised from investors were misappropriated by Ruderman. The settlement stipulates that he does not admit or deny the allegations.

No criminal charges have been brought to date.

The SEC settlement was technically entered into in June but had to be reviewed and approved by the five SEC commissioners.

The unopposed motion for judgment was filed last week. It was signed by the judge on Monday, August 12th.

Last modified: October 4, 2019
Related:

Category: Legal Briefs

Home Legal Briefs › 1 Global Capital’s Carl Ruderman Consents To Judgment With The SEC


    ByzFunder

    Legend Funding

    Balboa Capital

    Lendora

    SOS Capital

    Hunter Caroline

    United Fund USA

    Idea Financial

    Smart Business Funding

    Vox Funding

    Torro

    Yardline

    Redstone Advance

    Percent

    Velocity Capital Group

    Banana Exchange

    AMA Recovery

    Proventure Capital

    CounselorLibrary

    Forward Financing

    Lendini

    Cashyew

    Amerifi Capital

    Avanza Capital

    Unique Funding Solutions

    Broker Fair 2022

    Key Capital Group