A lawyer for New York financier Lynn Tilton urged a U.S. judge on Monday to block the U.S. Securities and Exchange Commission from trying her before an administrative judge for defrauding investors, Reuters reported yesterday. Tilton, the head of private equity firm Patriarch Partners, appeared in court as one of her lawyers asked U.S. District Judge Ronnie Abrams in Manhattan to declare the SEC's in-house court system unconstitutional. Lawyers for the U.S. Justice Department defending the SEC countered that the system was proper, and that any challenge Tilton wanted to make would need to wait until after her trial, which is set for Oct. 13.
