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Ex-Credit Bancorp Officials Will Pay $329 Million in SEC Lawsuit

Three former Credit Bancorp Ltd. officials convicted of operating an international Ponzi scheme must pay almost $329 million in a lawsuit brought by the U.S. Securities and Exchange Commission, a U.S. judge said.

U.S. District Judge Robert Sweet in New York yesterday ordered the final judgment against Thomas Rittweger, manager of North American operations for the firm, Douglas Brandon, a Kentucky lawyer who represented the firm, and Richard Blech, who was Credit Bancorp’s chairman and chief executive officer.