U.S. Securities & Exchange Commission v. Abdelkader, No. 4:2023cv01032 - Document 7 (N.D. Cal. 2023)
Court Description: FINAL JUDGMENT AS TO DEFENDANT MAHMOUD ALI ABDELKADER. ***Civil Case Terminated.*** Signed by Judge Haywood S. Gilliam, Jr. on 3/9/2023. (ndr, COURT STAFF) (Filed on 3/9/2023) Modified on 3/9/2023 (anj, COURT STAFF).
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U.S. Securities & Exchange Commission v. Abdelkader Doc. 7 Case 4:23-cv-01032-HSG Document 7 Filed 03/09/23 Page 1 of 4 UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA SAN FRANCISCO DIVISION 1 2 3 4 UNITED STATES SECURITIES & EXCHANGE 5 COMMISSION, FINAL JUDGMENT AS TO DEFENDANT MAHMOUD ALI ABDELKADER 6 Plaintiff, 7 v. 8 MAHMOUD ALI ABDELKADER, 9 Case No. 4:23-cv-01032-HSG Defendant. 10 11 12 13 The Securities and Exchange Commission having filed a Complaint and Defendant 14 Mahmoud Ali Abdelkader having entered a general appearance; consented to the Court’s 15 jurisdiction over Defendant and the subject matter of this action; consented to entry of this Final 16 Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction 17 and except as otherwise provided herein in paragraph IV); waived findings of fact and conclusions 18 19 of law; and waived any right to appeal from this Final Judgment: 20 I. 21 22 IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant is permanently 23 restrained and enjoined from violating, directly or indirectly, Section 10(b) of the Securities 24 Exchange Act of 1934 (the “Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5 promulgated 25 26 thereunder [17 C.F.R. § 240.10b-5], by using any means or instrumentality of interstate commerce, or of the mails, or of any facility of any national securities exchange, in connection with the 27 28 purchase or sale of any security: SEC V. ABDELKADER, CASE NO. 4:23-CV-01032-HSG 1 FINAL JUDGMENT Dockets.Justia.com Case 4:23-cv-01032-HSG Document 7 Filed 03/09/23 Page 2 of 4 1 (a) to employ any device, scheme, or artifice to defraud; 2 (b) to make any untrue statement of a material fact or to omit to state a material fact 3 necessary in order to make the statements made, in the light of the circumstances 4 under which they were made, not misleading; or 5 6 7 8 (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 9 Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who receive 10 actual notice of this Final Judgment by personal service or otherwise: (a) Defendant’s officers, 11 agents, servants, employees, and attorneys; and (b) other persons in active concert or participation 12 with Defendant or with anyone described in (a). 13 14 15 16 II. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is liable for disgorgement of $81,580.83, representing net profits gained as a result of the conduct alleged in 17 18 19 the Complaint, together with prejudgment interest thereon in the amount of $8,988.73. The Court finds that sending the disgorged funds to the United States Treasury, as ordered below, is consistent 20 with equitable principles. The Court further imposes a civil penalty in the amount of $81,580.83 21 pursuant to Section 21A(a) of the Exchange Act [15 U.S.C. § 78u-1(a)]. Defendant shall satisfy 22 these obligation(s) by paying $172,150.39 to the Securities and Exchange Commission within 30 23 days after entry of this Final Judgment. 24 Defendant may transmit payment electronically to the Commission, which will provide 25 26 detailed ACH transfer/Fedwire instructions upon request. Payment may also be made directly from 27 a bank account via Pay.gov through the SEC website at 28 http://www.sec.gov/about/offices/ofm.htm. Defendant may also pay by certified check, SEC V. ABDELKADER, CASE NO. 4:23-CV-01032-HSG 2 FINAL JUDGMENT Case 4:23-cv-01032-HSG Document 7 Filed 03/09/23 Page 3 of 4 1 bank cashier’s check, or United States postal money order payable to the Securities and Exchange 2 Commission, which shall be delivered or mailed to 3 4 5 Enterprise Services Center Accounts Receivable Branch 6500 South MacArthur Boulevard Oklahoma City, OK 73169 6 and shall be accompanied by a letter identifying the case title, civil action number, and name of this 7 Court; Mahmoud Ali Abdelkader as a defendant in this action; and specifying that payment is made 8 pursuant to this Final Judgment. 9 10 11 Defendant shall simultaneously transmit photocopies of evidence of payment and case identifying information to the Commission’s counsel in this action. By making this payment, Defendant relinquishes all legal and equitable right, title, and interest in such funds and no part of 12 13 14 15 the funds shall be returned to Defendant. The Commission shall send the funds paid pursuant to this Final Judgment to the United States Treasury. The Commission may enforce the Court’s judgment for disgorgement and prejudgment 16 interest by using all collection procedures authorized by law, including, but not limited to, moving 17 for civil contempt at any time after 30 days following entry of this Final Judgment. The 18 Commission may enforce the Court’s judgment for penalties by the use of all collection procedures 19 20 21 22 23 authorized by law, including the Federal Debt Collection Procedures Act, 28 U.S.C. § 3001 et seq., and moving for civil contempt for the violation of any Court orders issued in this action. Defendant shall pay post judgment interest on any amounts due after 30 days of the entry of this Final Judgment pursuant to 28 U.S.C. § 1961. 24 25 26 27 28 SEC V. ABDELKADER, CASE NO. 4:23-CV-01032-HSG 3 FINAL JUDGMENT Case 4:23-cv-01032-HSG Document C 7 Filed 03/09/23 Page 4 of 4 III. 1 2 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the Consent is 3 incorporated herein with the same force and effect as if fully set forth herein, and that Defendant 4 shall comply with all of the undertakings and agreements set forth therein. 5 6 IV. 7 8 9 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, solely for purposes of exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 11 U.S.C. §523, the 10 allegations in the complaint are true and admitted by Defendant, and further, any debt for 11 disgorgement, prejudgment interest, civil penalty or other amounts due by Defendant under this 12 Final Judgment or any other judgment, order, consent order, decree or settlement agreement entered 13 14 in connection with this proceeding, is a debt for the violation by Defendant of the federal securities laws or any regulation or order issued under such laws, as set forth in Section 523(a)(19) of the 15 16 Bankruptcy Code, 11 U.S.C. §523(a)(19). 17 V. 18 19 20 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. 21 22 23 24 25 Dated: 3/9/2023 ____________________________________ UNITED STATES DISTRICT JUDGE 26 27 28 SEC V. ABDELKADER, CASE NO. 4:23-CV-01032-HSG 4 FINAL JUDGMENT
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