Jeffrey Friestad
PER
Jeffrey Friestad Friestad
Jeffrey Friestad, an S.E.C. lawyer, said the penalty was the largest ever imposed in a PIPE case. He said that it represented their ongoing commitment to stamp out fraud and ongoing abuses in the PIPE market. Mr. Friestad of the S.E.C. said the commission would look to see whether brokers had any responsibility for this and bring charges if appropriate. The S.E.C. said that in the PIPE trades from 2000 to 2002, the defendants realized profits of $7 million.