Phillip J. Milligan, Exchange Act Rel. 61790, March 26, 2010
Time since appeal–6 months 10 days
Time since last brief–2 months 7 days
This was a no brainer. Milligan had been criminally convicted and enjoined after taking $93,600 in secret payments from a promoter (bribes) to recommend a stock to his customers. His conviction was 12 years ago. The SEC's injunctive action was brought in 2009. Although one has to wonder why it took the SEC so long to bring both the injunctive action and this proceeding, the results are not surprising.