Securities and Exchange Commission asking for $390,000 from Kwame Kilpatrick

DETROIT (WXYZ) - The Securities and Exchange Commission is asking for $390,000 from Kwame Kilpatrick.

They went after Kilpatrick a couple years ago, accusing him of a "brazen" pay to play scheme with people trying to do business with city pensions.

Now, the SEC is demanding Kilpatrick pay the $390,000 in a civil penalty.

They also want former Detroit Treasurer Jeffrey Beasley to pay $130,000 in a civil penalty.

It is unlikely that Kilpatrick will be able to pay that money if the judge approves it.

He's locked up in federal prison, serving a sentence of 28 years for his RICO, bribery and extortion convictions.

Kilpatrick also owes the city millions of dollars in restitution from his federal corruption case.

 

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