Securities and Exchange Commission v. Gregory Lamont Drake et al, No. 2:2020cv00405 - Document 17 (C.D. Cal. 2020)
Court Description: FINAL JUDGMENT AS TO DEFENDANT JASON DAVID ST. AMOUR 13 by Judge Otis D. Wright, II: Defendant Jason David St. Amour and his agents etc., are Permanently Restrained and Enjoined from violating the Securities Acts (as cited therein). Defendant is li able for disgorgement of $69,660.66, representing profits gained as a result of the conduct alleged in the Complaint, together with prejudgment interest thereon in the amount of $3,830.81 and a civil penalty in the amount of $25,000.0 0.Defendant shall satisfy this obligation by paying the amounts set forth above to the Securities and Exchange Commission within 30 days after entry of this Final Judgment. (SEE DOCUMENT FOR OTHER SPECIFICS AND INSTRUCTIONS THEREIN). (lc) Modified on 1/31/2020 (lc).
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Securities and Exchange Commission v. Gregory Lamont Drake et al Doc. 17 1 2 3 4 5 6 7 UNITED STATES DISTRICT COURT CENTRAL DISTRICT OF CALIFORNIA WESTERN DIVISION 8 9 10 11 12 SECURITIES AND EXCHANGE COMMISSION, 13 14 15 16 17 18 19 20 21 22 23 24 Case No. 2:20-cv-00405 ODW (PLAx) Plaintiff, vs. FINAL JUDGMENT AS TO DEFENDANT JASON DAVID ST. AMOUR GREGORY LAMONT DRAKE, an individual; STEPHEN KENNETH GROSSMAN, an individual; STEPHEN SCOTT MOLESKI, an individual; JASON DAVID ST. AMOUR, an individual; and DAVID ALAN WOLFSON, an individual, Defendants. FINAL JUDGMENT AS TO DEFENDANT JASON DAVID ST. AMOUR The Securities and Exchange Commission having filed a Complaint and 25 Defendant Jason David St. Amour having entered a general appearance; consented 26 to the Court’s jurisdiction over Defendant and the subject matter of this action; 27 consented to entry of this Final Judgment without admitting or denying the 28 1 Dockets.Justia.com 1 allegations of the Complaint (except as to jurisdiction and except as otherwise 2 provided herein in paragraph VI); waived findings of fact and conclusions of law; 3 and waived any right to appeal from this Final Judgment: I. 4 5 IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant 6 is permanently restrained and enjoined from violating, directly or indirectly, 7 Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) [15 8 U.S.C. § 78j(b)] and Rule 10b–5 promulgated thereunder [17 C.F.R. § 240.10b–5], 9 by using any means or instrumentality of interstate commerce, or of the mails, or 10 of any facility of any national securities exchange, in connection with the purchase 11 or sale of any security: 12 (a) to employ any device, scheme, or artifice to defraud; 13 (b) to make any untrue statement of a material fact or to omit to state a 14 material fact necessary in order to make the statements made, in the light of the 15 circumstances under which they were made, not misleading; or 16 17 (c) to engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person. 18 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as 19 provided in Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also 20 binds the following who receive actual notice of this Final Judgment by personal 21 service or otherwise: (a) Defendant’s officers, agents, servants, employees, and 22 attorneys; and (b) other persons in active concert or participation with Defendant 23 or with anyone described in (a). 24 25 II. IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED 26 that Defendant is permanently restrained and enjoined from violating Section 17(a) 27 of the Securities Act of 1933 (the “Securities Act”) [15 U.S.C. § 77q(a)] in the 28 2 1 offer or sale of any security by the use of any means or instruments of 2 transportation or communication in interstate commerce or by use of the mails, 3 directly or indirectly: 4 (a) to employ any device, scheme, or artifice to defraud; 5 (b) to obtain money or property by means of any untrue statement of a 6 material fact or any omission of a material fact necessary in order to make the 7 statements made, in light of the circumstances under which they were made, not 8 misleading; or 9 (c) 10 to engage in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser. 11 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as 12 provided in Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also 13 binds the following who receive actual notice of this Final Judgment by personal 14 service or otherwise: (a) Defendant’s officers, agents, servants, employees, and 15 attorneys; and (b) other persons in active concert or participation with Defendant 16 or with anyone described in (a). III. 17 18 IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant 19 is permanently restrained and enjoined from violating, directly or indirectly, 20 Section 15(a)(1) of the Exchange Act [15 U.S.C. § 78o(a)(1)] by using any means 21 or instrumentality of interstate commerce, or of the mails, or of any facility of any 22 national securities exchange, to effect transactions in, or induce or attempt to 23 induce the purchase or sale of, securities while not registered with the Commission 24 as a broker or dealer or while not associated with an entity registered with the 25 Commission as a broker or dealer. 26 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as 27 provided in Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also 28 3 1 binds the following who receive actual notice of this Judgment by personal service 2 or otherwise: (a) Defendant’s officers, agents, servants, employees, and attorneys; 3 and (b) other persons in active concert or participation with Defendant or with 4 anyone described in (a). IV. 5 6 IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant 7 is permanently restrained and enjoined from, directly or indirectly, including, but 8 not limited to, through any entity owned or controlled by Defendant, soliciting any 9 person or entity to purchase or sell any security. 10 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as 11 provided in Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also 12 binds the following who receive actual notice of this Judgment by personal service 13 or otherwise: (a) Defendant’s officers, agents, servants, employees, and attorneys; 14 and (b) other persons in active concert or participation with Defendant or with 15 anyone described in (a). 16 17 V. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that 18 Defendant is liable for disgorgement of $69,660.66, representing profits gained as 19 a result of the conduct alleged in the Complaint, together with prejudgment interest 20 thereon in the amount of $3,830.81 and a civil penalty in the amount of $25,000.00 21 pursuant to Section 20(d) of the Securities Act [15 U.S.C. § 77t(d)] and Section 22 21(d)(3) of the Exchange Act [15 U.S.C. § 78u(d)(3)]. Defendant shall satisfy this 23 obligation by paying the amounts set forth above to the Securities and Exchange 24 Commission within 30 days after entry of this Final Judgment. 25 Defendant may transmit payment electronically to the Commission, which 26 will provide detailed ACH transfer/Fedwire instructions upon request. Payment 27 may also be made directly from a bank account via Pay.gov through the SEC 28 4 1 website at http://www.sec.gov/about/offices/ofm.htm. Defendant may also pay by 2 certified check, bank cashier’s check, or United States postal money order payable 3 6 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 7 and shall be accompanied by a letter identifying the case title, civil action number, 8 and name of this Court; Jason David St. Amour as a defendant in this action; and 9 specifying that payment is made pursuant to this Final Judgment. 4 5 10 Defendant shall simultaneously transmit photocopies of evidence of 11 payment and case identifying information to the Commission’s counsel in this 12 action. By making this payment, Defendant relinquishes all legal and equitable 13 right, title, and interest in such funds and no part of the funds shall be returned to 14 Defendant. The Commission shall send the funds paid pursuant to this Final 15 Judgment to the United States Treasury. 16 The Commission may enforce the Court’s judgment for disgorgement and 17 prejudgment interest by moving for civil contempt (and/or through other collection 18 procedures authorized by law) at any time after 30 days following entry of this 19 Final Judgment. Defendant shall pay post judgment interest on any delinquent 20 amounts pursuant to 28 U.S.C. § 1961. 21 22 VI. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, solely 23 for purposes of exceptions to discharge set forth in Section 523 of the Bankruptcy 24 Code [11 U.S.C. § 523], the allegations in the complaint are true and admitted by 25 Defendant, and further, any debt for disgorgement, prejudgment interest, civil 26 penalty or other amounts due by Defendant under this Final Judgment or any other 27 judgment, order, consent order, decree or settlement agreement entered in 28 5 1 connection with this proceeding, is a debt for the violation by Defendant of the 2 federal securities laws or any regulation or order issued under such laws, as set 3 forth in Section 523(a)(19) of the Bankruptcy Code [11 U.S.C. § 523(a)(19)]. 4 VII. 5 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this 6 Court shall retain jurisdiction of this matter for the purposes of enforcing the terms 7 of this Final Judgment. 8 9 VIII. There being no just reason for delay, pursuant to Rule 54(b) of the Federal 10 Rules of Civil Procedure, the Clerk is ordered to enter this Final Judgment 11 forthwith and without further notice. 12 13 Dated: January 31, 2020. 14 15 ____________________________________ 16 OTIS D. WRIGHT, II 17 UNITED STATES DISTRICT JUDGE 18 19 20 21 22 23 24 25 26 27 28 6
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