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Securities and Exchange Commission v. Forum National Investments Ltd.

United States District Court, C.D. California

March 24, 2017

SECURITIES AND EXCHANGE COMMISSION, Plaintiff,
v.
FORUM NATIONAL INVESTMENTS LTD., DANIEL CLOZZA, ROBERT LOGAN DUNN, WILLIAM BRAD ANGUKA, and AHMAD FARID GHAZNAWI, Defendants.

          FINAL JUDGMENT AS TO DEFENDANT AHMAD FARID GHAZNAWI and AMENDED FINAL JUDGMENT AS TO DEFENDANTS FORUM NATIONAL INVESTMENTS LTD., DANIEL CLOZZA, ROBERT LOGAN DUNN and WILLIAM BRAD ANGUKA[1] [JS-6]

          JOHN A. KRONSTADT, UNITED STATES DISTRICT JUDGE.

         The Securities and Exchange Commission ("SEC") having filed its Complaint and Defendants having entered a general appearance; consented to the Court's jurisdiction over them and the subject matter of this action; consented to entry of Judgments without admitting or denying the allegations of the Complaint (except as to jurisdiction and except as otherwise provided herein in paragraph IX); waived findings of fact and conclusions of law; and waived any right to appeal from this Judgment, which supersedes those previously entered in this action:

         I.

         IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendants Forum Investments Ltd. ("Forum"), Daniel Clozza ("Clozza"), Robert Logan Dunn ("Dunn"), William Brad Anguka ("Anguka") and Ahmad Farid Ghaznawi ("Ghaznawi") (collectively, "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 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 exchange, in connection with the purchase or sale of any security:

(a) to employ any device, scheme, or artifice to defraud;
(b) to make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading; or
(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 Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following 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 described in (a).

         II.

         IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that Defendants Dunn, Anguka, and Ghaznawi are permanently restrained and enjoined from violating, directly or indirectly, Section 17(b) of the Securities Act of 1933 ("Securities Act") [15 U.S.C. §§ 77q(b)], by publishing or circulating any advertisement or communication describing a security without fully disclosing the compensation received in exchange for the advertisement or communication

         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 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).

         III.

         IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant Forum National Investments Ltd. is permanently restrained and enjoined, from directly or indirectly, controlling any person who violates Section 13(a) of the Exchange Act [15 U.S.C. §§ 78m(a)] and Rule 13a-1 thereunder [17 C.F.R. § 13a-1] by failing to file with the Commission timely and accurate quarterly, current and annual reports.

         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) ...


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