With a securities violation already under his belt, Keith Laggos wasn’t in a position to contest his involvement in the Zeek Rewards Ponzi scheme.

The SEC saw Keith Laggos as a Zeek insider and sued him for securities fraud on March 22nd.

Based on a Statement of Financial Condition Laggos provided last December, a settlement was submitted for court approval.

On March 29th approval was granted, requiring Laggos to return $79,191.

Of the almost eighty grand Laggos will cough up, $36,937 is the return of ill-gotten gains, $5,316 is prejudgement interest and another $36,937 constitutes a civil penalty.

$10,000 must be paid within within ten days of judgement, $23,000 within 180 days, $23,000 within 270 days and the remaining balance within 360 days.

The funds have been ordered payable to the Zeek Rewards Receiver and, as indicated by the Receiver, will at some point form part of a further victim distribution payment.