The SEC, in part of its ongoing crackdown on scandals tied to the mutual fund industry, moved ahead with a lawsuit against Daniel G. Calugar, who in the past two years netted more than $175 million by actively trading investments offered by Alliance Capital and MFS, The New York Times reports.

And New York State Attorney General Eliot Spitzer is also considering pressing separate charges alleging improper trading activities against Calugar.

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