Magistrate mulls civil penalty for former Kmart executive

U.S. Magistrate Judge Steven Pepe is considering the Securities And Exchanges Commission’s request that Charles Conaway, the former head of Kmart Corp., pay a penalty in neighborhood of $13.5 million for misleading Kmart investors, reports The Associated Press.

Conaway’s attorneys argue that the maximum penalty Conaway faces is $60,000. Pepe is taking additional briefs before he rules on the matter.

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