Ex-Apollo Partner Gets SEC Fraud Judgment Thrown Out on Appeal
- Mohammed Ali Rashid was accused of submitting phony expenses
- Court says SEC failed to show he knew he was charging funds
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A former Apollo Global Management senior partner accused by the Securities and Exchange Commission of defrauding the firm’s private equity funds got a judgment against him reversed on appeal.
Mohammed Ali Rashid was found liable in 2020 of submitting $290,000 in fraudulent expenses to Apollo funds, getting them to pay for items including trips to Brazil and Hawaii, salon hair cuts, spa treatments and dinners at high-end Manhattan restaurants.