The conspiracy charges carry penalties of up to five years in prison and a $250,000 fine. Fishoff faces four counts of substantive securities fraud, Chernin and Petrello each face two counts, and Constantin faces one count. Each substantive securities fraud charge carries a maximum penalty of 20 years in prison and a $5 million fine.
The SEC’s action seeks to permanently prevent the conspirators from participating in future secondary or follow-on offerings and to compel them to pay disgorgement fees and civil penalties.