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SEC v. Botvinnik Case No. 18-cv-8182 (VSB) (S.D.N.Y)

Sept. 21, 2022

On September 7, 2018, the Commission filed a complaint against Emil Botvinnik (“Botvinnik”). The Complaint alleged that from June 2012 to November 2014, Botvinnik, a then registered representative at a broker-dealer, Windsor Street Capital, L.P., defrauded five retail customers by recommending frequent, short-term trades which generated large commissions for Botvinnik but were almost guaranteed to lose money for his customers. See the Complaint.

On May 20, 2021, the Court entered a final consent judgment against Botvinnik, ordering him to pay disgorgement of $1,140,996.48, prejudgment interest of $208,155.86, and a civil penalty of $160,000 for a total of $1,509,152.34 to the Commission, pursuant to a payment plan detailed therein with the last payment due April 1, 2022. The Court further ordered that the Commission hold all funds, together with any interest and income earned thereon, pending further order of the Court. See Botvinnik’s Final Judgment.

As of October 5, 2021, Botvinnik has paid a total of $500,000 to the Commission.

For more information, please contact the Commission:

Office of Distributions

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