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Presidential Pardons and SEC Actions

The relationship between presidential pardons and SEC civil enforcement actions, including the impact on accountability and victim restitution.

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Jan 31, 2026
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What does the Constitution say about treason and punishment for presidents?

The Constitution defines treason narrowly — “levying War against [the ], or in adhering to their Enemies, giving them Aid and Comfort” — and sets high proof rules and structural limits on punishment, ...

Jan 18, 2026

How do presidential pardons affect parallel civil and SEC enforcement actions related to the same fraud?

A presidential pardon erases or forgives federal criminal liability but—by constitutional tradition—does not automatically nullify parallel civil enforcement, including SEC actions; yet recent practic...