Securities and Exchange Commission v. Yuh-Yue Chen, No. 2:2019cv02734 - Document 28 (C.D. Cal. 2020)
Court Description: FINAL JUDGMENT as to Yuh-Yue Chen by Judge Dale S. Fischer. (MD JS-6, Case Terminated). See Final Judgment for specifics. (jp)
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Securities and Exchange Commission v. Yuh-Yue Chen Doc. 28 JS-6 1 2 3 4 5 6 UNITED STATES DISTRICT COURT 7 CENTRAL DISTRICT OF CALIFORNIA 8 Western Division 9 10 11 SECURITIES AND EXCHANGE COMMISSION, 12 Case No. 2:19-cv-02734-DSF-E FINAL JUDGMENT AS TO DEFENDANT YUH-YUE CHEN Plaintiff, 13 14 15 16 vs. YUH-YUE CHEN, Defendant. 17 18 The Securities and Exchange Commission having filed a Complaint and 19 Defendant Yuh-Yue Chen (aka Alexander Chen, hereinafter “Defendant”) having 20 entered a general appearance; consented to the Court’s jurisdiction over Defendant 21 and the subject matter of this action; consented to entry of this Final Judgment; 22 waived findings of fact and conclusions of law; and waived any right to appeal from 23 this Final Judgment: 24 25 I. IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant is 26 permanently restrained and enjoined from violating, directly or indirectly, Section 27 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) [15 U.S.C. § 28 78j(b)] and Rule 10b-5 promulgated thereunder [17 C.F.R. § 240.10b-5], by using 2:19-cv-02734-DSF-E Dockets.Justia.com 1 2 3 4 5 any means or instrumentality of interstate commerce, or of the mails, or of any facility of any national securities exchange, in connection with the purchase or sale of any security: (a) to employ any device, scheme, or artifice to defraud; (b) to make any untrue statement of a material fact or to omit to state a 6 material fact necessary in order to make the statements made, in the light 7 8 9 10 11 12 13 14 15 16 of the circumstances under which they were made, not misleading; or (c) to engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or participation with Defendant or with anyone described in (a). 17 II. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant 18 shall pay a civil penalty in the amount of $739,959.00 to the Securities and Exchange 19 Commission pursuant to Section 21A of the Exchange Act, 15 U.S.C. § 78u-1 20 Defendant shall satisfy this obligation by paying $739,959.00 to the Securities and 21 Exchange Commission within 30 days after entry of this Final Judgment. 22 Defendant may transmit payment electronically to the Commission, which will 23 provide detailed ACH transfer/Fedwire instructions upon request. Payment may also 24 be made directly from a bank account via Pay.gov through the SEC website at 25 http://www.sec.gov/about/offices/ofm.htm. Defendant may also pay by certified 26 check, bank cashier’s check, or United States postal money order payable to the 27 Securities and Exchange Commission, which shall be delivered or mailed to 28 Enterprise Services Center 2:19-cv-02734-DSF-E 1 2 3 Accounts Receivable Branch 6500 South MacArthur Boulevard Oklahoma City, OK 73169 4 5 and shall be accompanied by a letter identifying the case title, civil action number, 6 and name of this Court; Yuh-Yue Chen as a defendant in this action; and specifying 7 that payment is made pursuant to this Final Judgment. 8 9 Defendant shall simultaneously transmit photocopies of evidence of payment and case identifying information to the Commission’s counsel in this action. By 10 making this payment, Defendant relinquishes all legal and equitable right, title, and 11 interest in such funds and no part of the funds shall be returned to Defendant. The 12 Commission shall send the funds paid pursuant to this Final Judgment to the United 13 States Treasury. Defendant shall pay post-judgment interest on any delinquent 14 amounts pursuant to 28 USC § 1961. 15 III. 16 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the SEC 17 has determined to forgo seeking disgorgement against Defendant, and the claim for 18 disgorgement against Defendant is hereby DISMISSED with prejudice. 19 20 IV. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, solely for 21 purposes of exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 22 11 U.S.C. §523, the allegations in the complaint are true and admitted by Defendant, 23 and further, any debt for disgorgement, prejudgment interest, civil penalty or other 24 amounts due by Defendant under this Final Judgment or any other judgment, order, 25 consent order, decree or settlement agreement entered in connection with this 26 proceeding, is a debt for the violation by Defendant of the federal securities laws or 27 any regulation or order issued under such laws, as set forth in Section 523(a)(19) of 28 the Bankruptcy Code, 11 U.S.C. §523(a)(19). 2:19-cv-02734-DSF-E 1 2 3 4 V. 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 Final Judgment. 5 6 7 8 DATED: November 13, 2020 Honorable Dale S. Fischer UNITED STATES DISTRICT JUDGE 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 2:19-cv-02734-DSF-E
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