-RNB Securities and Exchange Commission v. Joseph R Porche et al, No. 8:2010cv01165 - Document 48 (C.D. Cal. 2012)

Court Description: FINAL JUDGMENT by Judge David O. Carter, AS TO DEFENDANT CARLTON L. WILLIAMS: Plaintiff Securities and Exchange Commission (Commission) having filed a Complaint and Defendant Carlton L. Williams (Defendant or Williams) having entered a general appear ance; consented to the Court's jurisdiction over Williams 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); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment: I. IT IS HEREBY ORDERED that defendant Williams and his 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 permanently restrained and enjoined from violating Sections 5(a) and 5(c) of the Securities Act of 1933 (Securities Act) [15 U.S.C. 77e(a) and 77e(c)] by, directly or indirectly, in the absence of any applicable exemption: (See document for further details.) IV. IT IS FURTHER ORDERED that defendant Williams is liable for disgorgement of $299,628, representing profits gained as a result of the conduct alleged in the Complaint, together with pre-judgment interest thereon in the amount of $14,787, for a total of $314,415. Based on Williams' sworn representations in his Statement of Financial Condition dated December 31, 2011, and other docum ents and information submitted to the Commission, however, the Court is not ordering Williams to pay a civil penalty and payment of the disgorgement and pre-judgment interest thereon is waived. The determination not to impose a civil penalty and to w aive payment of the disgorgement and prejudgment interest is contingent upon the accuracy and completeness of Williams' Statement of Financial Condition. If at any time following the entry of this Final Judgment the Commission obtains informatio n indicating that Williams' representations to the Commission concerning his assets, income, liabilities, or net worth were fraudulent, misleading, inaccurate, or incomplete in any material respect as of the time such representations were made, the Commission may, at its sole discretion and without prior notice to Williams, petition the Court for an order requiring Williams to pay the unpaid portion of the disgorgement, pre-judgment and post-judgment interest thereon, and the maximum civil penalty allowable under the law. In connection with any such petition, the only issue shall be whether the financial information provided by Williams was fraudulent, misleading, inaccurate, or incomplete in any material respect as of the time such re presentations were made. In its petition, the Commission may move this Court to consider all available remedies, including, but not limited to, ordering Williams to pay funds or assets, directing the forfeiture of any assets, or sanctions for contemp t of this Final Judgment. The Commission may also request additional discovery. Defendant Williams may not, by way of defense to such petition: (1) challenge the validity of the Consent or this Final Judgment; (2) contest the allegations in the Compl aint filed by the Commission; (3) assert that payment of disgorgement, pre-judgment and post-judgment interest or a civil penalty should not be ordered; (4) contest the amount of disgorgement and pre-judgment and postjudgment interest; (5) contest the imposition of the maximum civil penalty allowable under the law; or (6) assert any defense to liability or remedy, including, but not limited to, any statute of limitations defense. (rla)