In December, Chimay sought a multimillion-dollar loan, falsely claiming he had $14 million in liquid assets in a Bermuda bank account to serve as collateral, the SEC said. In reality, the account was empty, the agency said.
The SEC case is Securities and Exchange Commission v. Chimay Capital Management Inc., 10-cv-04582, U.S. District Court, Southern District of New York (Manhattan).
The criminal case is People v. Chimay, New York state Supreme Court (Manhattan).