By Emilie Ruscoe (June 30, 2022, 7:55 PM EDT) — A California federal judge has ramped up the proposed penalty that an Arizona attorney must pay the U.S. Securities and Exchange Commission over claims that he was part of a scheme to defraud would-be investors out of $25 million by touting plans for a pair of marijuana businesses in the Golden State.
In a final judgment filed Wednesday, U.S. District Judge Mark C. Scarsi said that defendant Mark Heckele must pay roughly $518,000 in the matter. This includes over $268,000 in disgorgement and nearly $42,600 in prejudgment interest.
Heckele was also ordered to pay a civil penalty of over $207,000, which…
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