In a session that lasted more than two hours, the justices suggested that people accused of fraud by the SEC have a constitutional right to go before a federal court jury, at least when the commission is seeking civil penalties.
The U.S. Supreme Court hears arguments today on the SEC's ability to use in-house judges to seek multimillion-dollar penalties.
Sassi Mizrahi was sentenced to more than seven years in prison after being found guilty of five counts of wire fraud related to helping his brother defraud at least 40 investors, according to the Justice Department.