- Associated Press - Wednesday, January 14, 2015

MIAMI (AP) - The former chief executive officer of BankAtlantic Bancorp wants a judge to overturn a jury verdict or order a new trial in a Securities and Exchange Commission fraud case.

The attorney for Alan Levan says in court documents that distortions and unsubstantiated argument by the SEC led jurors in December to incorrectly conclude that Levan misled investors about the bank’s financial health in 2007. Levan has insisted his statements to investors were accurate.

The SEC is expected to seek a civil penalty against Levan and would likely ask that he be prohibited from holding a future executive position with a publicly traded company. A March 4 hearing is set to consider possible penalties.

BB&T; Corp. bought BankAtlantic’s assets in 2012. Levan formed a new company called BBX Capital Corp.

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