Securities and Exchange Commission v. Forum National Investments Ltd. et al, No. 5:2014cv02376 - Document 79 (C.D. Cal. 2016)
Court Description: AMENDED FINAL JUDGMENT AS TO DEFENDANT WILLIAM ANGUKA by Judge John A. Kronstadt. IT IS ORDERED, ADJUDGED, AND DECREED that Defendant is permanently restrained and enjoined. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is liable f or disgorgement of $44,811, representing profits gained as a result of the conduct alleged in the Complaint, together with prejudgment interest thereon in the amount of $4,819. Defendant shall satisfy this obligation by paying $4 9,630 to the SEC within 14 days after entry of the February 29, 2016 Judgment. Defendant is liable for a civil penalty in the amount of $10,000. Defendant shall satisfy this obligation by paying $ 10,000 to the SEC within 14 days after entry of this Amended Judgment. (See attached document for details.) (lom)
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Securities and Exchange Commission v. Forum National Investments Ltd. et al Doc. 79 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 19 vs. FORUM NATIONAL INVESTMENTS LTD., DANIEL CLOZZA, ROBERT LOGAN DUNN, WILLIAM BRAD ANGUKA, and AHMAD FARID GHAZNAWI, CIVIL ACTION ED CV14-02376 JAK (DTBx) Defendants. 20 21 22 23 AMENDED FINAL JUDGMENT AS TO DEFENDANT WILLIAM ANGUKA The Securities and Exchange Commission ("SEC") having filed a Complaint and Defendant William Anguka ("Anguka" or "Defendant") having entered a general 24 25 appearance; consented to the Court’s jurisdiction over Defendant and the subject 26 matter of this action; and waived findings of fact and conclusions of law: 27 I. 28 1 Dockets.Justia.com 1 2 On February 29, 2016, the Court -- with the Defendant's consent -- entered the Judgment of Permanent Injunction and Disgorgement as to Defendant William 3 4 5 6 Anguka (the "February 29 Judgment"). Anguka consented to entry of Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction and except as otherwise provided); and waived any right to appeal from 7 8 the Judgment, which provided as follows: 9 10 A. IT IS ORDERED, ADJUDGED, AND DECREED that Defendant is 11 12 permanently restrained and enjoined from violating, directly or indirectly, Section 13 10(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) [15 U.S.C. § 14 78j(b)] and Rule 10b-5 promulgated thereunder [17 C.F.R. § 240.10b-5], by using 15 16 any means or instrumentality of interstate commerce, or of the mails, or of any 17 facility of any national securities exchange, in connection with the purchase or sale of 18 any security: 19 20 (a) to employ any device, scheme, or artifice to defraud; 21 (b) to make any untrue statement of a material fact or to omit to state a material 22 fact necessary in order to make the statements made, in the light of the 23 24 circumstances under which they were made, not misleading; or 25 (c) to engage in any act, practice, or course of business which operates or 26 27 would operate as a fraud or deceit upon any person. 28 2 1 2 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also 3 4 5 6 binds the following who receive actual notice of this 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 7 8 described in (a). 9 10 B. IT IS ORDERED, ADJUDGED, AND DECREED that Defendant is 11 12 permanently restrained and enjoined from violating, directly or indirectly, Section 13 17(b) of the Securities Act of 1933 (“Securities Act”) [15 U.S.C. §§ 77q(b)], by 14 publishing or circulating any advertisement or communication describing a security 15 16 without fully disclosing the compensation received in exchange for the advertisement 17 or communication 18 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as 19 20 provided in Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also 21 binds the following who receive actual notice of this Judgment by personal service or 22 otherwise: (a) Defendant’s officers, agents, servants, employees, and attorneys; and 23 24 (b) other persons in active concert or participation with Defendant or with anyone 25 described in (a). 26 27 C. 28 3 1 2 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is permanently barred from participating in an offering of penny stock, including 3 4 5 6 engaging in activities with a broker, dealer, or issuer for purposes of issuing, trading, or inducing or attempting to induce the purchase or sale of any penny stock. A penny stock is any equity security that has a price of less than five dollars, except as 7 8 9 10 provided in Rule 3a51-1 under the Exchange Act [17 C.F.R. 240.3a51-1]. D. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the Court 11 12 shall, upon motion of the SEC, order whether Defendant should be required to pay a 13 civil penalty pursuant to Sections 20(d) of the Securities Act [15 U.S.C. § 77t(d)] and 14 Section 21(d)(3) of the Exchange Act [15 USC § 78u(d)(3)]. Defendant further agrees 15 16 that in connection with the SEC’s motion, and at any hearing held on such a motion: 17 (a) Defendant will be precluded from arguing that he did not violate the federal 18 securities laws as alleged in the Complaint; (b) Defendant may not challenge the 19 20 validity of this Consent or the Judgment; (c) solely for the purposes of such motion, 21 the allegations of the Complaint shall be accepted as and deemed true by the Court; 22 and (d) the Court may determine the issues raised in the motion on the basis of 23 24 affidavits, declarations, excerpts of sworn deposition or investigative testimony, and 25 documentary evidence, without regard to the standards for summary judgment 26 27 contained in Rule 56(c) of the Federal Rules of Civil Procedure except that either 28 4 1 2 Party may move the Court to allow discovery in connection with such motion and any opposition to such motion. 3 E. 4 5 6 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is liable for disgorgement of $44,811, representing profits gained as a result of the 7 8 9 10 conduct alleged in the Complaint, together with prejudgment interest thereon in the amount of $4,819. Defendant shall satisfy this obligation by paying $49,630 to the SEC within 14 days after entry of the February 29, 2016 Judgment. 11 12 Defendant may transmit payment electronically to the SEC, which will provide 13 detailed ACH transfer/Fedwire instructions upon request. Payment may also be made 14 directly from a bank account via Pay.gov through the SEC website at 15 16 http://www.sec.gov/about/offices/ofm.htm. Defendant may also pay by certified 17 check, bank cashier’s check, or United States postal money order payable to the 18 Securities and Exchange Commission, which shall be delivered or mailed to 19 20 21 22 23 24 Enterprise Services Center Accounts Receivable Branch 500 South MacArthur Boulevard Oklahoma City, OK 73169 and shall be accompanied by a letter identifying the case title, civil action number, and name of this Court; William Brad Anguka as a defendant in this action; and 25 26 specifying that payment is made pursuant to this Judgment. 27 28 5 1 2 Defendant shall simultaneously transmit photocopies of evidence of payment and case identifying information to the SEC’s counsel in this action. By making this 3 4 5 6 payment, Defendant relinquishes all legal and equitable right, title, and interest in such funds and no part of the funds shall be returned to Defendant. The SEC shall send the funds paid pursuant to this Judgment to the United States Treasury. 7 8 9 Defendant shall pay post-judgment interest on any delinquent amounts pursuant to 28 USC § 1961. 10 F. 11 12 13 14 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 shall comply with all of the undertakings and agreements 15 16 17 18 set forth therein. G. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, solely for 19 20 purposes of exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 21 11 U.S.C. §523, the allegations in the complaint are true and admitted by Defendant, 22 and further, any debt for disgorgement, prejudgment interest, civil penalty or other 23 24 amounts due by Defendant under this Judgment or any other judgment, order, consent 25 order, decree or settlement agreement entered in connection with this proceeding, is a 26 27 debt for the violation by Defendant of the federal securities laws or any regulation or 28 6 1 2 order issued under such laws, as set forth in Section 523(a)(19) of the Bankruptcy Code, 11 U.S.C. §523(a)(19) 3 Anguka waived any right to appeal from these terms. They remain in full 4 5 effect. 6 II. 7 8 9 10 The February 29 Judgment left whether a civil penalty should be ordered against Anguka for later determination of the Court. The SEC having properly moved the Court for an order of a civil penalty against Anguka, and the Court having 11 12 13 14 considered the submissions on these issues, IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that, pursuant to Sections 20(d) of the Securities Act of 1933 [15 U.S.C. §77t(d)] and Section 21(d)(3) 15 16 of the Securities Exchange Act of 1934 [15 USC § 78u(d)(3)], Defendant is liable for 17 a civil penalty in the amount of $10,000. Defendant shall satisfy this obligation by 18 paying $ 10,000 to the SEC within 14 days after entry of this Amended Judgment. 19 20 Defendant may transmit payment electronically to the SEC, which will 21 provide detailed ACH transfer/Fedwire instructions upon request. Payment may also 22 be made directly from a bank account via Pay.gov through the SEC website at 23 24 http://www.sec.gov/about/offices/ofm.htm. Defendant may also pay by certified 25 check, bank cashier’s check, or United States postal money order payable to the 26 27 28 Securities and Exchange Commission, which shall be delivered or mailed to Enterprise Services Center Accounts Receivable Branch 7 1 2 3 6500 South MacArthur Boulevard Oklahoma City, OK 73169 and shall be accompanied by a letter identifying the case title, civil action number, 4 and name of this Court; William Anguka as a defendant in this action; and specifying 5 that payment is made pursuant to this Final Judgment. 6 7 Defendant shall simultaneously transmit photocopies of evidence of payment 8 and case identifying information to the SEC’s counsel in this action. By making this 9 payment, Defendant relinquishes all legal and equitable right, title, and interest in 10 11 such funds and no part of the funds shall be returned to Defendant. The SEC shall 12 send the funds paid pursuant to this Final Judgment to the United States Treasury. 13 Defendant shall pay post judgment interest on any delinquent amounts pursuant to 28 14 15 U.S.C. § 1961. III. 16 17 18 19 20 21 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. 22 23 24 25 Dated: November 21, 2016 ____________________________________ John A. Kronstadt United States District Judge 26 27 28 8
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