Not everyone at Enron was guilty. I'm sure you already know that. In this case Bales was registered as a Series 7 employee without which he would have been unable to even speak about stock issues.
Series 7 is intensive ethics training with basics about stock settlement, margins violations, etc. When something like this happens, the Series 7 people can be considered liable. Going higher [and I am also a Series 24 General Securities principal] the culpability becomes more intense. Even more so for a Financial Securities Principal and a Compliance Officer.
I have never heard of a non-registered employee [like Enron peeps] ever being held accountable in these instances.
Still, there’s no clarification as to who exactly levied the $1.5 million judgement or whether it’s even legally binding.
The arbitrator levied the judgement. It should be legally binding.
Yes, of course I know that. It was simply illustrating the point behind my question.
The arbitrator levied the judgement. It should be legally binding.
So this is where I get really confused. Bales is supposed to be on the hook for all this money, but the couple say they never saw a dime. Where were the complaints to the arbitrator (which is typically who/what?) and the inevitable follow-up of legal action against Bales?