The Flashy Billionaire Versus The Securities and Exchange Commission
It’s a fight! Government agency pursues flashy billionaire. Flashy billionaire fights back. Lynn Tilton’s firm bought companies in trouble. According to the SEC, though, the trouble didn't stop there. In March 2015, the agency brought an action against Tilton for defrauding investors of $200 million. Tilton sued back, challenging the SEC’s power to bring her before the agency’s own judges. She didn’t pull her punches. Tilton claimed that the SEC’s administrative proceedings violated the U.S. Constitution. What happens when the self-declared “Diva of Distressed” meets the SEC? Listen to this radio commentary to find out.