Why are so few senior executives prosecuted and meanwhile Eric Wanger’s career is destroyed?”
The number of cases that go through the S. E.C.’s internal court has increased in recent years, at the direction of Congress in the Dodd-Frank
financial reform act, which authorizes the commission to bring almost any case before its own judges rather than those in federal courts.
E.C., AltiGen said Mr. Wanger had failed to file certain stock ownership forms on time the previous
year; the company also said it would not nominate him for re-election to the board.
Over nearly three years, they said, Mr. Wanger made 15 improper trades for a fund he oversaw at his Chicago firm, Wanger Investment Management.
Years after Mr. Wanger settled his case, the S. E.C.
Mr. Wanger, who now calls himself the $2,200 Man on a website he has created, said his experience
with the S. E.C.’s in-house court system did not feel like he was in America.