Securities and Exchange Commission v. Premium Point Investments LP et al, No. 1:2018cv04145 - Document 46 (S.D.N.Y. 2022)
Court Description: FINAL JUDGMENT AS TO DEFENDANTS PREMIUM POINT INVESTMENTS LP AND ANILESH AHUJA a/k/a NEIL AHUJA: IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant Premium Point is permanently restrained and enjoined from violating, directly or indi rectly, Advisers Act Section 206(4) [15 U.S.C. § 80b-6(4)] and Rule 206(4)-2 [17 C.F.R. § 275.206(4)-2] promulgated thereunder by failing to obtain an annual audit of the investment funds Premium Point advised by an independent public accou ntant registered with and subject to regular inspection by the Public Company Accounting Oversight Board, failing to obtain a surprise examination of the investment funds Premium Point advised by an independent public accountant, and failing to distr ibute audited financial statements to investors in the investment funds Premium Point advised within 120 days of the end of those funds' fiscal years. IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Ahuja shall pay a civil penalty in th e amount of $450,000 pursuant to Securities Act Section 20(d) [15 U.S.C. § 77t(d)], Exchange Act Section 21(d) [15 U.S.C. § 78u(d)], and Advisers Act Section 209 [15 U.S.C. § 80b-9]. Ahuja shall pay this penalty in six installment s to the Commission according to the following schedule: (1) $10,000, within 30 days after entry of this Final Judgment; (2) $90,000, on or before December 31, 2022; (3) $87,500, on or before March 31, 2023; (4) $87,500, on or bef ore June 30, 2023; (5) $87,500, on or before September 30, 2023; and (6) $87,500, on or before December 31, 2023. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court shall retain jurisdiction of this matter for the purposes of enfo rcing the terms of this Final Judgment. There being no just reason for delay, pursuant to Rule 54(b) of the Federal Rules of Civil Procedure, the Clerk is ordered to enter this Final Judgment forthwith and without further notice. (And as further set forth herein.) Anilesh Ahuja and Premium Point Investments LP terminated. (Signed by Judge John P. Cronan on 9/20/2022) (Attachments: # 1 Exhibit 1, # 2 Exhibit 2) (jca)
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Securities and Exchange Commission v. Premium Point Investments LP et al Doc. 46 Case 1:18-cv-04145-JPC Document 46 Filed 09/20/22 Page 1 of 6 UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK SECURITIES AND EXCHANGE COMMISSION, Plaintiff, 18 Civ. 4145 (JPC) v. PREMIUM POINT INVESTMENTS LP, ANILESHA AHUJA a/k/a NEIL AHUJA, AMIN MAJIDI, JEREMY SHOR, ASHISH DOLE, and FRANK DINUCCI, JR., Defendants. [PROPOSED] FINAL JUDGMENT AS TO DEFENDANTS PREMIUM POINT INVESTMENTS LP AND ANILESH AHUJA a/k/a NEIL AHUJA The Securities and Exchange Commission (the “Commission”) having filed an Amended Complaint and Defendants Premium Point Investments LP (“Premium Point”) and Anilesh Ahuja a/k/a Neil Ahuja (“Ahuja”) having entered a general appearance; consented to the Court’s jurisdiction over Defendants and the subject matter of this action; consented to entry of this Final Judgment; waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment: I. IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendants are 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 Rules 10b-5(a) and (c) promulgated thereunder [17 C.F.R. §§ 240.10b-5(a) and (c)], 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 purchase or sale of any security: (a) to employ any device, scheme, or artifice to defraud; or Dockets.Justia.com Case 1:18-cv-04145-JPC Document 46 Filed 09/20/22 Page 2 of 6 (b) 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 Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendants’ officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or participation with Defendants or with anyone described in (a). II. IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendants are permanently restrained and enjoined from violating Sections 17(a)(1) and (3) of the Securities Act of 1933 (the “Securities Act”) [15 U.S.C. §§ 77q(a)(1) and (3)] in the offer or sale of any security by the use of any means or instruments of transportation or communication in interstate commerce or by use of the mails, directly or indirectly: (a) to employ any device, scheme, or artifice to defraud; or (b) to engage in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendants’ officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or participation with Defendants or with anyone described in (a). III. IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendants are permanently restrained and enjoined from violating Sections 206(1) and (2) of the Investment 2 Case 1:18-cv-04145-JPC Document 46 Filed 09/20/22 Page 3 of 6 Advisers Act of 1940 (the “Advisers Act”) [15 U.S.C. §§ 80b-6(1) and 80b-6(2)] from, while acting as investment advisers, by the use of any means or instruments of interstate commerce, directly or indirectly: (a) employing any device, scheme, or artifices to defraud any client or prospective client; and (b) to engage in any transaction, practice, or course of business which operates as a fraud or deceit upon any client or prospective client. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendants’ officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or participation with Defendants or with anyone described in (a). IV. IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendants are permanently restrained and enjoined from violating, directly or indirectly, Advisers Act Section 206(4) [15 U.S.C. § 80b-6(4)] and Rule 206(4)-8(a)(2) [17 C.F.R. § 275.206(4)-8(a)(2)] promulgated thereunder by, while acting as an investment adviser to a pooled investment vehicle, engaging in any act, practice, or course of business that is fraudulent, deceptive, or manipulative with respect to any investor or prospective investor in the pooled investment vehicle. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendants’ officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or participation with Defendants or with anyone described in (a). 3 Case 1:18-cv-04145-JPC Document 46 Filed 09/20/22 Page 4 of 6 V. IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant Premium Point is permanently restrained and enjoined from violating, directly or indirectly, Advisers Act Section 206(4) [15 U.S.C. § 80b-6(4)] and Rule 206(4)-2 [17 C.F.R. § 275.206(4)-2] promulgated thereunder by failing to obtain an annual audit of the investment funds Premium Point advised by an independent public accountant registered with and subject to regular inspection by the Public Company Accounting Oversight Board, failing to obtain a surprise examination of the investment funds Premium Point advised by an independent public accountant, and failing to distribute audited financial statements to investors in the investment funds Premium Point advised within 120 days of the end of those funds’ fiscal years. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who receive actual notice of this Final 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 described in (a). VI. IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Ahuja shall pay a civil penalty in the amount of $450,000 pursuant to Securities Act Section 20(d) [15 U.S.C. § 77t(d)], Exchange Act Section 21(d) [15 U.S.C. § 78u(d)], and Advisers Act Section 209 [15 U.S.C. § 80b-9]. Ahuja shall pay this penalty in six installments to the Commission according to the following schedule: (1) $10,000, within 30 days after entry of this Final Judgment; (2) $90,000, on or before December 31, 2022; (3) $87,500, on or before March 31, 2023; (4) $87,500, on or before June 30, 2023; (5) $87,500, on or before September 30, 2023; and (6) $87,500, on or before December 31, 2023. 4 Case 1:18-cv-04145-JPC Document 46 Filed 09/20/22 Page 5 of 6 If Ahuja fails to make any payment by the date agreed and/or in the amount agreed according to the schedule set forth above, all outstanding payments under this Final Judgment, including post-judgment interest, minus any payments made, shall become due and payable immediately at the discretion of the staff of the Commission without further application to the Court. Ahuja may transmit payment electronically to the Commission, which will provide detailed ACH transfer/Fedwire instructions upon request. Payment may also be made directly from a bank account via Pay.gov through the SEC website at http://www.sec.gov/about/offices/ofm.htm. Ahuja may also pay by certified check, bank cashier’s check, or United States postal money order payable 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 and shall be accompanied by a letter identifying the case title, civil action number, and name of this Court; Anilesh Ahuja as a defendant in this action; and specifying that payment is made pursuant to this Final Judgment. Ahuja shall simultaneously transmit photocopies of evidence of payment and case identifying information to the Commission’s counsel in this action. By making this payment, Ahuja relinquishes all legal and equitable right, title, and interest in such funds and no part of the funds shall be returned to Ahuja. 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 penalties by the use of all collection procedures 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 5 Case 1:18-cv-04145-JPC Document 46 Filed 09/20/22 Page 6 of 6 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. VII. 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 Defendants shall comply with all of the undertakings and agreements set forth therein. VIII. 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 allegations in the Amended Complaint are true and admitted by Defendants, and further, any debt for disgorgement, prejudgment interest, civil penalty or other amounts due by Defendant Ahuja under this Final Judgment or any other judgment, order, consent order, decree or settlement agreement entered in connection with this proceeding, is a debt for the violation by Defendant Ahuja of the federal securities laws or any regulation or order issued under such laws, as set forth in Section 523(a)(19) of the Bankruptcy Code, 11 U.S.C. § 523(a)(19). IX. 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. X. There being no just reason for delay, pursuant to Rule 54(b) of the Federal Rules of Civil Procedure, the Clerk is ordered to enter this Final Judgment forthwith and without further notice. Dated September 20, 2022 HON. JOHN P. CRONAN UNITED STATES DISTRICT JUDGE 6
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