The government is making the former general counsel and CEO of San Francisco investment bank Merriman Curhan Ford pay for the sins of a rogue banker.

Former GC Christopher Aguilar and CEO Jon Merriman, as well as the firm, settled Securities and Exchange Commission charges that they failed to properly supervise David “Scott” Cacchione. Cacchione pleaded guilty to fraud in March for e-mailing customer accounts to financier-turned-fraud artist William “Boots” Del Biaggio III, which were used to scam banks out of $50 million worth of loans.

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