There is only the SEC. If Gendarme loses the case the SEC has already specified the penalties that will be imposed. It is all in the complaint. Please don't try to imagine that there is more to the case or more possible outcomes. If Gendarme settles with the SEC they will negotiate some sub-set of those penalties. There is NOTHING in this case that will benefit the investors.
This horse is dead there is no point in continuing to beat it.
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