Former Detroit Mayor Kwame Kilpatrick Hit With Hefty Fine In SEC Case
DETROIT (AP) – The bill keeps growing for former Detroit Mayor Kwame Kilpatrick.
A judge has ordered him to pay hundreds of thousands of dollars for accepting money and trips from city pension advisers. Kilpatrick didn’t respond to a lawsuit filed by the U.S. Securities and Exchange Commission.
Federal Judge Victoria Roberts this week ordered Kilpatrick to pay a penalty of $390,000. He and former city Treasurer Jeff Beasley are also on the hook for $162,000, the value of the gifts plus interest.
Kilpatrick is serving a 28-year prison sentence for corruption. He owes more than $4 million to the Detroit water department, a conservative estimate of the profits enjoyed by a contractor who got excavation work with Kilpatrick’s help.
He resigned as mayor in 2008.
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