SEC v. AremisSoft et al.(securities fraud)

Publication: Corporate Counsel

Publication Date: 01-SEP-05

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COPYRIGHT 2005 American Lawyer Media L.P.

The long arm of the law has just yanked a big sack of cash across the ocean. On June 9 Roys Poyiadjis--a former cochair of AremisSoft Corporation, a defunct European software development company--agreed to pay the Securities and Exchange Commission $200 million to settle the agency's claims that he committed securities fraud. Since 2001, the SEC has tracked Poyiadjis's funds from the company's onetime headquarters in England, through Cyprus, the British Virgin Islands, Switzerland, and finally to the...

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