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Sugarman & Cannon
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Notice | Filed: March 15, 2024 | Entered: March 15, 2024 Securities & Exchange Commission v. Glassner
Securities/Commodities | New York Southern
Notice of Appearance
NOTICE OF APPEARANCE by Maureen Peyton King on behalf of Securities & Exchange Commission..(King, Maureen)
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Order | Filed: February 20, 2024 United States of America v. Approximately $86,386.34 in U.S. Currency seized from Wells Fargo Bank Account Number 837-8529088 et al
Forfeit/Penalty: Other | California Eastern
Order
ORDER signed by Senior Judge Morrison C. England, Jr on 02/20/2024 DISMISSING this Matter with prejudice. CASE CLOSED. (Lopez, K)
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Order | Filed: May 18, 2023 Securities & Exchange Commission v. Glassner
Securities/Commodities | New York Southern
Order
FINAL JUDGMENT AS TO DEFENDANT FRANK B. GLASSNER: IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant is 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 Rule 10b-5 promulgated 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 e xchange, in connection with the purchase or sale of any security, as further set forth herein. 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 follow ing 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 desc ribed in (a). IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is liable for disgorgement of $404,437.77, representing net profits gained as a result of the conduct alleged in the Complaint, together with prejudgment int erest thereon in the amount of $24,324.86, for a total of $428,762.63. The Court finds that sending the disgorged funds to the United States Treasury, as ordered below, is consistent with equitable principles. Defendant's obligatio n under this provision will be offset by the Order of Forfeiture in the amount of $368,000 entered against him in United States v. Glassner, 22 Cr. 451 (LJL) (S.D.N.Y.) (ECF Docket No.15). Defendant shall satisfy his remaining obligation by pa ying $60,762.63 to the Securities and Exchange Commission within 30 days after entry of this Final Judgment. Defendant may transmit payment electronically to the Commission, which will provide detailed ACH transfer/Fedwire instructions upo n request. Payment may also be made directly from a bank account via Pay.gov through the SEC website, as further set forth herein. Defendant shall simultaneously transmit photocopies of evidence of payment and case identifying information to the C ommissions 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. The Commission shall send the funds paid pu rsuant to this Final Judgment to the United States Treasury. The Commission may enforce the Court's judgment for disgorgement and prejudgment interest by using all collection procedures authorized by law, including, but not limited to, m oving for civil contempt at any time after 30 days following entry of this Final Judgment. 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. IT IS FU RTHER 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 set forth therein. IT IS FURTHER O RDERED, ADJUDGED, AND DECREED that, 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, and further, any debt for disgor gement, prejudgment interest, civil penalty or other amounts due by Defendant 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 violat ion 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 Bankruptcy Code, 11 U.S.C. § 523(a)(19). IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Cour t shall retain jurisdiction of this matter for the purposes of enforcing the terms of this Final Judgment. Motions terminated: 25 MOTION for Judgment on Consent as to Frank B. Glassner to be Approved filed by Securities & Exchange Commission., Frank B. Glassner terminated. (Signed by Judge Denise L. Cote on 5/18/2023) (vfr) Transmission to Finance Unit (Cashiers) for processing.
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