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Securities and Exchange Commission v. Khan, 3:14-CV-02743-HSG (DMR). (2015)

Court: District Court, N.D. California Number: infdco20150929865 Visitors: 4
Filed: Sep. 28, 2015
Latest Update: Sep. 28, 2015
Summary: FINAL JUDGMENT AS TO DEFENDANT AMMAR AKBARI HAYWOOD S. GILLIAM, Jr. , District Judge . The Securities and Exchange Commission having filed a Complaint and Defendant Ammar Akbari having entered a general appearance; consented to the Court's jurisdiction over Defendant Akbari 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 personal and subject matter jurisdiction, which Defendant Akbar
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FINAL JUDGMENT AS TO DEFENDANT AMMAR AKBARI

The Securities and Exchange Commission having filed a Complaint and Defendant Ammar Akbari having entered a general appearance; consented to the Court's jurisdiction over Defendant Akbari 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 personal and subject matter jurisdiction, which Defendant Akbari admits, and except as otherwise provided herein in paragraph III), 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 Defendant Akbari is liable for disgorgement of $2,000, representing profits gained as a result of the conduct alleged in the Complaint, together with prejudgment interest thereon in the amount of $202, for a total of $2,202. Defendant Akbari shall satisfy this obligation by paying $2,202 to the Securities and Exchange Commission within 14 days after entry of this Final Judgment.

Defendant Akbari 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. Defendant Akbari 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; and identifying Ammar Akbari as a defendant in this action; and specifying that payment is made pursuant to this Final Judgment.

Defendant Akbari 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 the funds shall be returned to Defendant Akbari. 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 interest by moving for civil contempt (and/or through other collection procedures authorized by law) at any time after 14 days following entry of this Final Judgment. Defendant shall pay post judgment interest on any delinquent amounts pursuant to 28 U.S.C. § 1961.

II.

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the Consent of Ammar Akbari is incorporated herein with the same force and effect as if fully set forth herein, and that Defendant Akbari shall comply with all of the undertakings and agreements set forth therein.

III.

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 complaint are true and admitted by Defendant Akbari, and further, any debt for disgorgement, prejudgment interest, civil penalty or other amounts due by Defendant Akbari 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 Akbari 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).

IV.

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.

V.

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.

Source:  Leagle

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