BRADENTON, Fla. – The request by former JPMorgan bankers Charles LeCroy and Douglas MacFaddin to dismiss a portion of the case brought by the Securities and Exchange Commission “ignores the overwhelming number of material facts” showing the men committed fraud in bond offerings by Jefferson County, Ala., the SEC said in a court filing.

The bankers, who are charged with making improper and undisclosed payments in connection with the deals and related swaps, filed a motion Oct. 7 seeking to dismiss counts related to the swaps arguing that they were not “securities-based” and are outside the SEC’s antifraud authority.

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