Securities and Exchange Commission v. Forum National Investments Ltd. et al, No. 5:2014cv02376 - Document 57 (C.D. Cal. 2016)

Court Description: FINAL JUDGMENT AS TO DEFENDANT FORUM NATIONAL INVESTMENTS LTD. (DKT. 53 ) filed by Judge John A. Kronstadt. Defendant and Defendant's agents, servants, employees, attorneys, and all persons in active concert or participation with them who rece ive actual notice of this Final Judgment by personal service or otherwise are permanently restrained and enjoined from violating, directly or indirectly, Section 10(b) of the Securities Exchange Act of 1934. This Court shall retain jurisdiction of this matter for the purposes of enforcing the terms of this Final Judgment. (ah)

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Securities and Exchange Commission v. Forum National Investments Ltd. et al Doc. 57 1 2 3 4 5 6 7 8 UNITED STATES DISTRICT COURT 9 CENTRAL DISTRICT OF CALIFORNIA 10 EASTERN DIVISION 11 12 13 SECURITIES AND EXCHANGE COMMISSION, Plaintiff, 14 15 16 17 18 vs. FORUM NATIONAL INVESTMENTS LTD., DANIEL CLOZZA, ROBERT LOGAN DUNN, WILLIAM BRAD ANGUKA, and AHMAD FARID GHAZNAWI, 19 CIVIL NO. 5:14-CV-02376-JAK (DTBX) Defendants. 20 21 FINAL JUDGMENT AS TO DEFENDANT FORUM NATIONAL INVESTMENTS LTD. 22 The Securities and Exchange Commission having filed a Complaint and Defendant Forum 23 24 25 National Investments Ltd. having entered a general appearance; consented to the Court’s jurisdiction over Defendant and the subject matter of this action; consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction); 26 27 28 waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment: 1 Dockets.Justia.com I. 1 2 3 4 IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant and Defendant’s agents, servants, employees, attorneys, and all persons in active concert or participation with them who receive actual notice of this Final Judgment by personal service or otherwise are 5 6 7 permanently restrained and enjoined from violating, directly or indirectly, Section 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5 8 promulgated thereunder [17 C.F.R. § 240.10b-5], by using any means or instrumentality of 9 interstate commerce, or of the mails, or of any facility of any national securities exchange, in 10 11 12 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 material fact 13 necessary in order to make the statements made, in the light of the circumstances 14 under which they were made, not misleading; or 15 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 19 20 II. IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant 21 and Defendant’s agents, servants, employees, attorneys, and all persons in active concert or 22 participation with them who receive actual notice of this Final Judgment by personal service or 23 otherwise are permanently restrained and enjoined from violating Section 13(a) of the Exchange 24 Act [15 U.S.C. §§ 78m(a)] and Rule 13a-1 thereunder [17 C.F.R. § 13a-1] by failing to file with the 25 26 27 Commission timely and accurate quarterly, current and annual reports. III. 28 2 1 IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is 2 prohibited, for 10 years following the date of the entry of this Final Judgment, from participating in 3 an offering of penny stock, including engaging in activities with a broker, dealer, or issuer for 4 purposes of issuing, trading, or inducing or attempting to induce the purchase or sale of any penny 5 6 7 stock. A penny stock is any equity security that has a price of less than five dollars, except as provided in Rule 3a51-1 under the Exchange Act [17 C.F.R. 240.3a51-1]. 8 9 10 IV. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the Consent is incorporated herein with the same force and effect as if fully set forth herein, and that Defendant 11 12 shall comply with all of the undertakings and agreements set forth therein. V. 13 14 15 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. 16 VI. 17 18 There being no just reason for delay, pursuant to Rule 54(b) of the Federal Rules of Civil 19 Procedure, the Clerk is ordered to enter this Final Judgment forthwith and without further notice. 20 21 22 Dated: February 29, 2016 _______________________________ JOHN A. KRONSTADT UNITED STATES DISTRICT JUDGE 23 24 25 26 27 28 3

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