Securities & Exchange Commission v. First Choice Management Services, Inc.

POSNER, Circuit Judge.

This pair of appeals is a sequel to two previous appeals arising from the same lawsuit, see 678 F.3d 538 (7th Cir.2012); 709 F.3d 685 (7th Cir.2013), though there is little overlap, and only Bradley, the receiver, was a party to the previous appeals.

The case from which the appeals arise began in 2000 as a suit by the SEC charging First Choice Management Services and others with fraud in violation of federal securities law. The district court appointed a receiver to take charge of the defendants’ assets and distribute them among the victims of the $31 million fraud. The…