Securities and Exchange Commission v. Bridge Premium Finance, LLC (f/k/a Berjac of Colorado, LLC et al
Filing
62
Stipulated ORDER of Settlement as to Relief Defendant Jane K. Turnock re: 56 Motion for Order, by Judge John L. Kane on 3/8/13.(sgrim)
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IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF COLORADO
Civil Action No.: 12-cv-02131-JLK-BNB
SECURITIES AND EXCHANGE COMMISSION,
Plaintiff,
v.
BRIDGE PREMIUM FINANCE, LLC (f/k/a BERJAC OF
COLORADO, LLC),
MICHAEL J. TURNOCK, and
WILLIAM P. SULLIVAN, II,
Defendants,
and
JANE K. TURNOCK,
Relief Defendant.
______________________________________________________________________________
STIPULATED ORDER OF SETTLEMENT AS TO RELIEF DEFENDANT JANE K.
TURNOCK
______________________________________________________________________________
The Securities and Exchange Commission (“Commission”) having filed an amended
complaint and Relief Defendant Jane K. Turnock (“Relief Defendant”) having entered a general
appearance; consented to the Court’s jurisdiction over Relief Defendant and the subject matter of
this action; consented to entry of this Stipulated Order of Settlement without admitting or
denying the allegations of the amended complaint (except as to jurisdiction); waived findings of
fact and conclusions of law; and waived any right to appeal from this Stipulated Order:
I.
IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Relief Defendant is
liable for disgorgement consisting of: (1) her right, title, and interest in $34,432.12 in funds held
in a bank account at Bank of the West numbered xxx-xx1695; (2) her right, title, and interest in
$1,990.03 in funds held in a bank account at Bank of the West numbered xxx-xx9620; and (3)
sales proceeds of not less than $325,000 from the sale of real property located at 3737 E. Gill
Drive, Denver, Colorado. Relief Defendant shall receive not more than $90,000 from the sale of
real property pursuant to the Colorado Homestead Exemption.
Upon entry of this Stipulated Order, funds contained in the Bank of the West bank
accounts listed above shall be paid to the Commission as instructed below.
The sales proceeds from the sale of real property located at 3737 E. Gill Drive, Denver,
Colorado that are payable pursuant to this Stipulated Order shall be paid to the Commission as
instructed below within 14 days after entry of this Stipulated Order or closing of the sale of the
real property, whichever occurs later.
Payments made pursuant to this Stipulated Order may be made electronically to the
Commission, which will provide detailed ACH transfer/Fedwire instructions upon request.
Payment may also be made directly from a bank account via Pay.gov through the SEC website at
http://www.sec.gov/about/offices/ofm.htm. Payments may also be made by certified check, bank
cashier’s check, or United States postal money order payable to the Securities and Exchange
Commission, which shall be delivered or mailed to
Enterprise Services Center
Accounts Receivable Branch
6500 South MacArthur Boulevard
Oklahoma City, OK 73169
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and shall be accompanied by a letter identifying the case title, civil action number, and name of
this Court; Jane K. Turnock as a relief defendant in this action; and specifying that payment is
made pursuant to this Stipulated Order. Photocopies of evidence of payment and case
identifying information shall also be transmitted to the Commission’s counsel in this action.
By making payments pursuant to this Stipulated Order, Defendant relinquishes all legal
and equitable right, title, and interest in such funds and no part of the funds shall be returned to
Relief Defendant.
The Commission shall hold the funds, together with any interest and income earned
thereon (collectively, the “Fund”), pending further order of the Court. The Commission may
propose a plan to distribute the Fund subject to the Court’s approval. Such a plan may provide
that the Fund shall be distributed pursuant to the Fair Fund provisions of Section 308(a) of the
Sarbanes-Oxley Act of 2002. The Court shall retain jurisdiction over the administration of any
distribution of the Fund. If the Commission staff determines that the Fund will not be
distributed, the Commission shall send the funds paid pursuant to this Stipulated Order to the
United States Treasury.
II.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the sixth claim for
relief in the amended complaint is dismissed with prejudice against Relief Defendant and Relief
Defendant is released from all claims by the Commission arising out of the facts alleged in the
amended complaint. Each party will pay its own fees and costs.
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III.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court shall retain
jurisdiction of this matter for the purposes of enforcing the terms of this Stipulated Order.
Dated: March 8, 2013
_s/John L. Kane_________________
UNITED STATES DISTRICT JUDGE
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