| SEC Begins Virtual Bench
Trial Against Paulsen For 2015 Utah Skiing
Trip Amid 2020 COVID
By Matthew
Russell Lee, Patreon
BBC
- Guardian
UK - Honduras
- The
Source
SDNY COURTHOUSE,
July 15 – On
Valentine's Day weekend in
2015, the Securities and
Exchange Commission alleges,
John A. Paulsen took part in
bribing Navnoor S. Kang of the
New York State Common
Retirement Fund to steer
business to Paulsen's
then-firm Sterne Agee. The
bribe include a skiing trip to
Park City, Utah.
On July 15, 2020
a bench trial began in the
case, before U.S. District
Court for the Southern
District of New York Judge
Paul G. Gardephe. Inner City
Press is covering it. The
SEC's opening statement quoted
Paulsen's messages to
co-workers about concealing
the trip and which client was
on it.
Judge
Gardephe indicated he will
need more from the parties on
the applicable (scienter)
legal standard the SEC much
meet.
Paulsen's
lawyer painted a different
picture, and before the 45
minute lunch break undertook
two cross-examinations of SEC
witnesses who had filed
declarations as their direct
testimony.
He was also able,
after a time, to have defense
exhibits appear on the screens
before the parties. So it it
goes during the Coronavirus
pandemic. Inner City Press
will continue to follow this
trial.
The case is
SEC v. Paulsen, 18-cv-6718
(Gardephe)
***
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