New York-based private equity firm Prime Group Holdings agreed to pay $20.6 million as part of a settlement with the Securities and Exchange Commission (SEC) resolving allegations it failed to adequately disclose it paid millions of dollars in fees to a real estate brokerage firm owned by its founder and chief executive officer.
Prime Group was fined $6.5 million and will pay approximately $11.5 million in disgorgement and $2.6 million in prejudgment interest, the SEC announced Tuesday in a press release. The firm is not registered with the SEC.
