The agency in addition charged Gregg A. Lerman, a principal at Arjent LLC, who agreed to settle the charges. Subject to court approval, Lerman is enjoined from future violations, and any disgorgement and financial penalty amounts are to be determined at a later date.
DePalo also faces related tax charges in New York state for failing to appropriately disclose his income and failing to pay more than $245,000 in state taxes between 2010 and 2012.