Story perspectives

SEC Dismisses Cases Against Trump-Pardoned Fraud Convicts

9/19/2025

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Summary

Story summary

The SEC dismissed civil cases against three men pardoned by Trump, avoiding penalties of hundreds of millions.
Devon Archer, Trevor Milton, and Carlos Watson were previously convicted of fraud-related crimes.
Archer faced nearly $60 million in penalties, Milton over $660 million, and Watson nearly $97 million.
Critics argue Trump's clemency actions favor allies and undermine Justice Department guidelines.
The SEC's decisions raise concerns about accountability for white-collar crime.

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Story summary

The SEC dismissed civil cases against three men pardoned by Trump, avoiding penalties of hundreds of millions.
Devon Archer, Trevor Milton, and Carlos Watson were previously convicted of fraud-related crimes.
Archer faced nearly $60 million in penalties, Milton over $660 million, and Watson nearly $97 million.
Critics argue Trump's clemency actions favor allies and undermine Justice Department guidelines.
The SEC's decisions raise concerns about accountability for white-collar crime.