While a jury was willing to clear Jay Lapine, the Securities and Exchange Commission wasn’t. Last year a federal district court jury acquitted Lapine of criminal charges that he participated in securities fraud at HBO & Company, a medical software firm where he used to be general counsel. But on June 8 the SEC, which filed its own civil complaint against Lapine, barred him from practicing before the agency for five years.
In a previous settlement this past March, the SEC barred Lapine from serving as an officer or director of a public company, and ordered him to pay a civil penalty of $60,000. He neither admitted nor denied the agency’s allegations against him. Lapine, 59, is now general counsel for the U.S. subsidiary of Intralot S.A., a Greek company that designs and develops hardware and software for lottery gaming systems.
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