Lynn Tilton Wins SEC Fraud Trial She Worked Hard to Avoid

By Bob Van Voris and Matt Robinson, Bloomberg News

Lynn Tilton, whose aggressive management style made her a success on male-dominated Wall Street, won a Securities and Exchange Commission trial she’d spent months fighting to avoid.

SEC administrative law judge Carol Fox Foelak ruled in favor of Tilton over allegations that she and her firm, Patriarch Partners LLC, bilked investors out of more than $200 million.

“It is concluded that the violations” alleged by the SEC are “unproven,” Foelak wrote in her ruling issued Wednesday. “Thus, the proceeding will be dismissed.”

The decision follows a three-week trial that ended last November. ...