Today, the Eleventh Circuit Court of Appeals reversed in part, a district court’s decision that found the defendant guilty of securities fraud. Securities Exchange Commission v. Richard L. Goble, No. 08-cv-00829 (11th Cir. May 29, 2012). In 2008, the SEC’s attorneys alleged that Goble had engaged in a sham money market transaction to free up funds in a customer reserve account to keep his firm afloat in violation of federal securities laws and regulations.