SDNY COURTHOUSE, July 15 – On Valentine's Day weekend in 2015, the Securities and Exchange Commission alleges, John A. Paulsen took part in bribing Navnoor S. Kang of the New York State Common Retirement Fund to steer business to Paulsen's then-firm Sterne Agee. The bribe include a skiing trip to Park City, Utah.
On July 15, 2020 a bench trial began in the case, before U.S. District Court for the Southern District of New York Judge Paul G. Gardephe. Inner City Press is covering it. The SEC's opening statement quoted Paulsen's messages to co-workers about concealing the trip and which client was on it.
Judge Gardephe indicated he will need more from the parties on the applicable (scienter) legal standard the SEC much meet.
Paulsen's lawyer painted a different picture, and before the 45 minute lunch break undertook two cross-examinations of SEC witnesses who had filed declarations as their direct testimony.
He was also able, after a time, to have defense exhibits appear on the screens before the parties. So it it goes during the Coronavirus pandemic. Inner City Press will continue to follow this trial.
The case is SEC v. Paulsen, 18-cv-6718 (Gardephe)
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