Reuters quoted a filing from the Securities and Exchange Commission (SEC), which stated that David Pajcin must pay the sum.
Up to $20.05 million of the figure is made up of fines while the remainder is a default judgement, the documents revealed.
During 2006 the former banker pleaded guilty to leading an insider trading ring, which is thought to have made $6.7 million in profits between 2004 and 2007.
He used the accounts of his aunt Sonja Anticevic through which to launder money and carry out some of the illegal transactions.
She won a ruling against the SEC in May, which had implicated her in the criminal activity of Mr Pajcin.
In an address to the Kimba Wood, US judge, who was quoted by Bloomberg, said: âAnticevic made a good faith effort to respond to the courtâs July 2009 order.â
âFurther, the court notes that Anticevic is a foreigner and likely not familiar with the US legal system and court procedures.â
The current whereabouts of the former banker are not known.