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U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 23823 / May 4, 2017

Securities and Exchange Commission v. Robert B. Crowe, Civil Action No. 2:16-CV-36 (S.D. Ohio filed January 14, 2016)

SEC Obtains Final Judgment Against Lobbyist in Pay-To-Play Scheme

On May 4, 2017, the Honorable Algenon L. Marbley of the United States District Court for the Southern District of Ohio entered a final judgment by consent against Robert B. Crowe.

On January 14, 2016, the SEC filed a complaint alleging that Crowe, a law firm partner who worked as a fundraiser and lobbyist for State Street Bank and Trust Company, entered into undisclosed arrangements with the then-deputy treasurer of the State of Ohio to make secret illegal campaign contributions to obtain and retain business awarded to State Street. According to the SEC's complaint, Crowe met the deputy treasurer's demand for campaign contributions by filtering $16,000 through his personal bank account and reimbursing individuals for contributions made in their own names. The SEC also alleged that Crowe continued to make concealed campaign contributions in response to the deputy treasurer's threats that State Street would lose the business. The SEC previously reached settlements with State Street and one of its former employees in related actions.

Without admitting or denying the SEC's allegations, Crowe consented to the entry of a final judgment permanently enjoining him from violations of Section 17(a)(1) of the Securities Act of 1933, ordering him to pay $16,000 in disgorgement plus $3,840.01 in prejudgment interest, and ordering him to pay a civil penalty of $75,000.

 

https://www.sec.gov/litigation/litreleases/2017/lr23823.htm


Modified: 05/04/2017