Securities and Exchange Commission v. Mack et al, No. 2:2010cv08383 - Document 96 (C.D. Cal. 2012)
Court Description: FINAL JUDGMENT OF PERMANENT INJUNCTION AND OTHER RELIEF against Alero Odell Mack, Jr by Judge Dale S. Fischer: Commission's Motion for Summary Judgment against Defendant Mack 85 is GRANTED. Defendant Mack and his agents, servants, employees, a ttorneys, and all persons in active concert or participation with them who receive actual notice of this Final Judgment by personal service or otherwise are permanently restrained and enjoined. Defendant Mack is liable for disgorgement of $1,07 9,879 representing profitsgained as a result of the conduct alleged in the Complaint, together withprejudgment interest thereon in the amount of $58,905.32 and a civil penalty in the amount of $150,000 pursuant to Section 20(d) of the Secur ities Act, 15 U.S.C. § 77t(d), Section 21(d)(3) of the Exchange Act, 15 U.S.C. § 78u(d)(3), and Section 209(e)(1) of the Advisers Act, 15 U.S.C. § 80b-9(e)(1). Defendant Mack shall satisfy this obligation by paying $1,288,784.32 t o the Commission within 14 days after entry of this Final Judgment. This Court shall retain jurisdiction of this matter for the purposes of enforcing the terms of this Final Judgment. There being no just reason for delay, pursuant to Rule 54(b) of the Federal Rules of Civil Procedure, the Clerk is ordered to enter this Final Judgment forthwith and without further notice. (MD JS-6, Case Terminated). (ir)
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Securities and Exchange Commission v. Mack et al Doc. 96 1 2 3 JS 6 4 5 6 7 UNITED STATES DISTRICT COURT 8 CENTRAL DISTRICT OF CALIFORNIA 9 10 11 Case No. CV 10-8383 DSF (PJWx) SECURITIES AND EXCHANGE COMMISSION, Plaintiff, 12 13 14 15 16 FINAL JUDGMENT OF PERMANENT INJUNCTION AND OTHER RELIEF AGAINST ALERO ODELL MACK, JR. vs. ALERO ODELL MACK, JR.; STEVEN ENRICO LOPEZ, SR.; EASY EQUITY ASSET MANAGEMENT, INC.; EASY EQUITY MANAGEMENT, L.P.; EASY EQUITY PARTNERS, L.P.; ALERO EQUITIES THE REAL ESTATE COMPANY, L.L.C.; and ALERO I.X. CORPORATION, 17 Defendants. 18 19 Pursuant to Rule 56 of the Federal Rules of Civil Procedure, the Motion for 20 Summary Judgment Against Alero Odell Mack, Jr. by Plaintiff Securities and 21 Exchange Commission (“Commission”) came before the Court. The Court, having 22 considered the Commission’s Motion, the Memorandum of Points and Authorities 23 and the other documents filed in support of the Motion, finds that: 24 I. 25 IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that the 26 Commission’s Motion for Summary Judgment against Defendant Mack is 27 GRANTED. 28 Dockets.Justia.com 1 2 II. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that 3 Defendant Mack and his agents, servants, employees, attorneys, and all persons in 4 active concert or participation with them who receive actual notice of this Final 5 Judgment by personal service or otherwise are permanently restrained and enjoined 6 from violating Section 17(a) of the Securities Act of 1933 (the “Securities Act”), 7 15 U.S.C. § 77q(a), in the offer or sale of securities by the use of means or 8 instruments of transportation or communication in interstate commerce or by use 9 of the mails, directly or indirectly: 10 (a) to employ any device, scheme, or artifice to defraud; 11 (b) to obtain money or property by means of any untrue statement of a 12 material fact or any omission to state a material fact necessary in order 13 to make the statements made, in light of the circumstances under 14 which they were made, not misleading; or 15 (c) 16 operates or would operate as a fraud or deceit upon the purchaser. 17 18 to engage in any transaction, practice, or course of business which III. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that 19 Defendant Mack and his agents, servants, employees, attorneys, and all persons in 20 active concert or participation with them who receive actual notice of this 21 Judgment by personal service or otherwise are permanently restrained and 22 enjoined from violating, directly or indirectly, Section 10(b) of the Securities 23 Exchange Act of 1934 (the “Exchange Act”), 15 U.S.C. § 78j(b), and Rule 10b-5 24 promulgated thereunder, 17 C.F.R. § 240.10b-5, by using any means or 25 instrumentality of interstate commerce, of the mails, or of any facility of a 26 national securities exchange, in connection with the purchase or sale of any 27 security: 28 (a) to employ any device, scheme, or artifice to defraud; 2 1 (b) to make any untrue statement of a material fact or to omit to state a 2 material fact necessary in order to make the statements made, in the 3 light of the circumstances under which they were made, not 4 misleading; or 5 (c) 6 to engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person. 7 8 9 IV. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant Mack and his agents, servants, employees, attorneys, and all persons in 10 active concert or participation with them who receive actual notice of this Final 11 Judgment by personal service or otherwise are permanently restrained and enjoined 12 from violating Sections 206(1) and 206(2) of the Investment Advisers Act of 1940 13 (“Advisers Act”), 15 U.S.C. §§ 80b-6(1)-(2), by using the mails or means and 14 instrumentalities of interstate commerce, while acting as an investment adviser, 15 directly or indirectly: 16 (a) 17 18 19 20 21 to employ any device, scheme, or artifice to defraud any client or prospective client; or (b) to engage in any transaction, practice, or course of business which operates as a fraud or deceit upon any client or prospective client. V. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that 22 Defendant Mack and his agents, servants, employees, attorneys, and all persons in 23 active concert or participation with them who receive actual notice of this Final 24 Judgment by personal service or otherwise are permanently restrained and enjoined 25 from violating Section 206(4) of the Advisers Act, 15 U.S.C. § 80b-6(4), and Rule 26 206(4)-8 promulgated thereunder, 17 C.F.R. § 275.206(4)-8, by the use of the 27 mails or means and instrumentalities of interstate commerce, directly or indirectly, 28 while acting as an investment adviser to a pooled investment vehicle, to: 3 1 (a) make any untrue statement of a material fact or to omit to state a 2 material fact necessary to make the statements made, in the light of 3 the circumstances under which they were made, not misleading, to 4 any investor or prospective investor in the pooled investment vehicle; 5 or 6 (b) otherwise engage in any act, practice, or course of business that is 7 fraudulent, deceptive, or manipulative with respect to any investor or 8 prospective investor in the pooled investment vehicle. 9 10 VI. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that 11 Defendant Mack is liable for disgorgement of $1,079,879 representing profits 12 gained as a result of the conduct alleged in the Complaint, together with 13 prejudgment interest thereon in the amount of $58,905.32 and a civil penalty in the 14 amount of $150,000 pursuant to Section 20(d) of the Securities Act, 15 U.S.C. § 15 77t(d), Section 21(d)(3) of the Exchange Act, 15 U.S.C. § 78u(d)(3), and Section 16 209(e)(1) of the Advisers Act, 15 U.S.C. § 80b-9(e)(1). Defendant Mack shall 17 satisfy this obligation by paying $1,288,784.32 to the Commission within 14 days 18 after entry of this Final Judgment. 19 Defendant Mack may transmit payment electronically to the Commission, 20 which will provide detailed ACH transfer/Fedwire instructions upon request. 21 Payment may also be made directly from a bank account or by credit or debit card 22 via Pay.gov through the SEC website at http://www.sec.gov/about/offices/ofm.htm. 23 Defendant Mack may also pay by certified check, bank cashier’s check, or United 24 States postal money order payable to the Commission, which shall be delivered or 25 mailed to 26 Enterprise Services Center 27 Accounts Receivable Branch 28 6500 South MacArthur Boulevard 4 1 Oklahoma City, OK 73169 2 and shall be accompanied by a letter identifying the case title, civil action number, 3 and name of this Court; Alero Odell Mack, Jr. as a Defendant in this action; and 4 specifying that payment is made pursuant to this Final Judgment. 5 Defendant shall simultaneously transmit photocopies of evidence of 6 payment and case identifying information to the Commission’s counsel in this 7 action. By making this payment, Defendant Mack relinquishes all legal and 8 equitable right, title, and interest in such funds and no part of the funds shall be 9 returned to Defendant Mack. The Commission shall send the funds paid pursuant 10 11 to this Final Judgment to the United States Treasury. The Commission may enforce the Court’s judgment for disgorgement and 12 prejudgment interest by moving for civil contempt (and/or through other collection 13 procedures authorized by law) at any time after 14 days following entry of this 14 Final Judgment. Defendant Mack shall pay post judgment interest on any 15 delinquent amounts pursuant to 28 U.S.C. § 1961. 16 VII. 17 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this 18 Court shall retain jurisdiction of this matter for the purposes of enforcing the terms 19 of this Final Judgment. 20 21 VIII. There being no just reason for delay, pursuant to Rule 54(b) of the Federal 22 Rules of Civil Procedure, the Clerk is ordered to enter this Final Judgment 23 forthwith and without further notice. 24 25 26 27 28 Dated: August 7, 2012 _________________________________ HON. DALE S. FISCHER UNITED STATES DISTRICT JUDGE 5
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