Dick Strong

In May of 2004, Strong Financial Corp., Strong and two of his senior executives reached a settlement with the U.S. Securities Exchange Commission, in which Strong, the company and senior executives admitted to mutual fund market timing. The company paid $80 million in fines and disgorgements. Strong himself paid $60 million, and his senior executives agreed to smaller fines. Strong and his two senior executives also agreed to lifetime bans from the financial services industry. Strong resigned his position with Strong Financial Corp. in December of 2003.