-PLA Securities and Exchange Commission v. David Praise et al, No. 2:2009cv02802 - Document 81 (C.D. Cal. 2011)

Court Description: AGREED FINAL JUDGMENT AGAINST KAMANGA MWANGI by Judge S. James Otero Noel Kamanga Mwangi to disgorge the amount of $380,000.00,Mwangi shall satisfy this obligation by paying $380,000 within 365 days of the entry of this Agreed Final Judgmen t to the Clerk of this Court, together with a letter identifying Kamanga Mwangi as a Relief Defendant in this action. The Clerk shall deposit the funds into an interest bearing account with the Court Registry. (see document for other specifics).Related to: Stipulation for Judgment 55 . (lc)

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-PLA Securities and Exchange Commission v. David Praise et al 1 2 3 4 5 6 7 8 9 Doc. 81 JENNIFER D. BRANDT, Texas Bar No. 00796242 Email: brandtj@sec.gov U.S. Securities and Exchange Commission 801 Cherry Street, Suite 1900 Fort Worth, Texas 76102 Telephone: (817) 978-6442 Facsimile: (817) 978-4927 NO JS-6 LOCAL COUNSEL KAREN MATTESON, Cal. Bar No. 102103 Email: mattesonk@sec.gov U.S. Securities and Exchange Commission 5670 Wilshire Boulevard, 11th Floor Los Angeles, California 90036 Telephone: (323) 965-3840 Facsimile: (323) 965-3908 Attorneys for Plaintiff U.S. Securities and Exchange Commission 10 11 UNITED STATES DISTRICT COURT 12 CENTRAL DISTRICT OF CALIFORNIA 13 WESTERN DIVISION 14 15 SECURITIES AND EXCHANGE COMMISSION, 16 Plaintiff, Case No. 2:09-CV-2802-SJ0-PLAX vs. 17 AGREED FINAL JUDGMENT AGAINST KAMANGA MWANGI 20 DAVID PRAISE, a/k/a Musa Mohamed, a/k/a David Praise Edwards, a/k/a David Enrique Fernandez, et al., The Honorable S. James Otero Defendants, 21 and, 22 MARINCO, INC., et al. 18 19 23 Relief Defendants. 24 25 Before the Court is the Consent of Kamanga Mwangi to the entry of an 26 Agreed Final Judgment of this Court. According to the settlement agreement 27 between the parties: 28 I. Dockets.Justia.com 1 IT IS HEREBY ORDERED, ADJUDGED AND DECREED that Kamanga 2 Mwangi, having consented to being named as a relief defendant in this proceeding 3 solely for purposes of equitable relief, is hereby ordered to pay disgorgement in the 4 amount of $380,000 constituting funds in his possession as a custodian of investor 5 funds. Mwangi shall satisfy this obligation by paying $380,000 within 365 days of 6 the entry of this Agreed Final Judgment to the Clerk of this Court, together with a 7 letter identifying Kamanga Mwangi as a Relief Defendant in this action; setting 8 forth the title and civil action number of this action and the name of this Court; and 9 specifying that payment is made pursuant to this Agreed Final Judgment. Mwangi 10 shall simultaneously transmit photocopies of such payment and letter to the 11 Commission’s counsel in this action. 12 relinquishes all legal and equitable right, title, and interest in such funds, and no 13 part of the funds shall be returned to him. The Clerk shall deposit the funds into an 14 interest bearing account with the Court Registry Investment System (“CRIS”) or 15 any other type of interest bearing account that is utilized by the Court. These 16 funds, together with any interest and income earned thereon (collectively, the 17 “Fund”), shall be held in the interest bearing account until further order of the 18 Court. In accordance with 28 U.S.C. § 1914 and the guidelines set by the Director 19 of the Administrative Office of the United States Courts, the Clerk is directed, 20 without further order of this Court, to deduct from the income earned on the money 21 in the Fund a fee equal to ten percent of the income earned on the Fund. Such fee 22 shall not exceed that authorized by the Judicial Conference of the United States. 23 The Commission may propose a plan to distribute the Fund subject to the Court’s 24 approval. Mwangi shall pay post-judgment interest on any amount unpaid after 25 thirty days from the entry of this Agreed Judgment in accordance with U.S. C. § 26 1961. 27 28 By making this payment, Mwangi II. IT IS FURTHER ORDERED, ADJUDGED AND DECREED that all 1 claims for relief asserted by the Commission under Sections 5(a), 5(c) and 17(a) of 2 the Securities Act of 1933 (“Securities Act”), Section 10(b) of the Securities 3 Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated 4 thereunder are hereby dismissed by agreement of the parties. III. 5 6 IT IS FURTHER ORDERED, ADJUDGED AND DECREED that, there 7 being no just reason for delay, the Clerk of the Court is hereby directed, pursuant 8 to Rule 54(b) of the Federal Rules of Civil Procedure, to enter this Agreed Final 9 Judgment forthwith. 10 IT IS SO ORDERED. 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Dated: 18 day of February , 2010. UNITED STATES DISTRICT JUDGE

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