"The SEC should never have brought this case," Albert said in an interview. "No reasonable individuals would have behaved as would have been necessary for the SEC to prevail."
Lynn Tilton, a financier known as the "Diva of Distressed" for investing in troubled companies, is awaiting an SEC in-house judge's decision on whether she defrauded investors to retain nearly $200 million of improper fees. Her trial ended in November.
The case is In re Hill, SEC Administrative Proceeding No. 3-16383.
This article was provided by Reuters.