Securities and Exchange Commission v. Robert S. Davis Jr. et al, No. 2:2018cv10481 - Document 197 (C.D. Cal. 2021)
Court Description: FINAL JUDGMENT AS TO DEFENDANT BALANCED FINANCIAL, INC. 187 by Judge Fernando M. Olguin. IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Balanced Financial is liable for disgorgement of $623,071.31, representing net profits gained a s a result of the conduct alleged in the Amended Complaint, together with prejudgment interest thereon in the amount of $91,804.54, for a total of $714,875.85, all jointly and severally with Defendant Gregory W. Anderson. Defendant shall satisfy this obligation by paying $714,875.85 to the Securities and Exchange Commission within 30 days after entry of this Final Judgment. (iv)
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Securities and Exchange Commission v. Robert S. Davis Jr. et al 1 2 3 4 5 6 7 8 Doc. 197 CHRISTINE NESTOR, Fla. Bar No. 597211 Email: nestorc@sec.gov STEPHANIE N. MOOT, Fla. Bar No. 30377 Email: moots@sec.gov ANDREW O. SCHIFF, Pa. Bar No. 43641 Email: schiffa@sec.gov Attorneys for Plaintiff Securities and Exchange Commission 801 Brickell Avenue, Suite 1950 Miami, FL 33131 Telephone: (305) 982-6300 Facsimile: (305) 516-4154 9 10 11 12 13 14 LOCAL COUNSEL DONALD W. SEARLES, Cal. Bar No. 135705 Email: searlesd@sec.gov Securities and Exchange Commission 444 S. Flower Street, Suite 900 Los Angeles, CA 90071 Telephone: (323) 965-3398 Facsimile: (213) 443-1904 15 UNITED STATES DISTRICT COURT CENTRAL DISTRICT OF CALIFORNIA 16 17 18 19 CV 18-10481 FMO (JCx) SECURITIES AND EXCHANGE COMMISSION, Plaintiff, 20 21 22 23 FINAL JUDGMENT AS TO DEFENDANT BALANCED FINANCIAL, INC. vs. ROBERT DAVIS, JR., et al. 24 25 Defendants. 26 This cause comes before the Court upon the Unopposed Motion by Plaintiff 27 Securities and Exchange Commission for Entry of Final Judgments against Certain 28 Page 1 of 4 Dockets.Justia.com 1 Defendants (“Motion”). By the Consent attached hereto, and without admitting or denying 2 the allegations of the Amended Complaint (except as to subject matter and personal 3 jurisdiction, which are admitted), Balanced Financial, Inc. (“Balanced Financial” or 4 “Defendant”) has: entered a general appearance; consented to entry of this Final Judgment; 5 waived findings of fact and conclusions of law; and waived any right to appeal from this 6 Final Judgment. The Court finds that good cause exists for entry of the Final Judgment. 7 Accordingly, the Commission’s Motion is GRANTED. The Court further orders as 8 follows: 9 I. 10 DISGORGEMENT AND PREJUDGMENT INTEREST 11 IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that 12 Balanced Financial is liable for disgorgement of $623,071.31, representing net profits 13 gained as a result of the conduct alleged in the Amended Complaint, together with 14 prejudgment interest thereon in the amount of $91,804.54, for a total of $714,875.85, all 15 jointly and severally with Defendant Gregory W. Anderson. Defendant shall satisfy this 16 obligation by paying $714,875.85 to the Securities and Exchange Commission within 30 17 days after entry of this Final Judgment. 18 Defendant may transmit payment electronically to the Commission, which will 19 provide detailed ACH transfer/Fedwire instructions upon request. Payment may also be 20 made directly from a bank account via Pay.gov through the SEC website at 21 http://www.sec.gov/about/offices/ofm.htm. Defendant may also pay by certified check, 22 bank cashier’s check, or United States postal money order payable to the Securities and 23 Exchange Commission, which shall be delivered or mailed to 24 Enterprise Services Center 25 Accounts Receivable Branch 26 6500 South MacArthur Boulevard 27 Oklahoma City, OK 73169 28 Page 2 of 4 1 and shall be accompanied by a letter identifying the case title, civil action number, and 2 name of this Court; Balanced Financial as a defendant in this action; and specifying that 3 payment is made pursuant to this Final Judgment. 4 Defendant shall simultaneously transmit photocopies of evidence of payment and 5 case identifying information to the Commission’s counsel in this action. By making this 6 payment, Defendant relinquishes all legal and equitable right, title, and interest in such 7 funds and no part of the funds shall be returned to Defendant. 8 The Commission shall hold the funds (collectively, the “Fund”) until further order 9 of this Court. The SEC may propose a plan to distribute the Fund subject to the Court’s 10 approval, and the Court shall retain jurisdiction over the administration of any distribution 11 of the Fund. 12 The Commission may enforce the Court’s judgment for disgorgement and 13 prejudgment interest by using all collection procedures authorized by law, including, but 14 not limited to, moving for civil contempt at any time after 30 days following entry of this 15 Final Judgment. Defendant shall pay post judgment interest on any amounts due after 30 16 days of entry of this Final Judgment pursuant to 28 U.S.C. § 1961. 17 II. 18 INCORPORATION OF CONSENT 19 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the Consent 20 is incorporated herein with the same force and effect as if fully set forth herein, and that 21 Balanced Financial shall comply with all of the undertakings and agreements set forth 22 therein. 23 III. 24 RETENTION OF JURISDICTION 25 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court 26 shall retain jurisdiction of this matter for the purposes of enforcing the terms of this Final 27 Judgment. 28 Page 3 of 4
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