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Securities and Exchange Commission v. Baccam

United States District Court, C.D. California, Western Division

June 8, 2017

SECURITIES AND EXCHANGE COMMISSION, Plaintiff,
v.
PATRIC KEN BACCAM, a/k/a Khanh Sengpraseuth, Defendant, and PRECISION RESEARCH GROUP LLC, and PRIM GROUP LLC, Relief Defendants.

          ORDER GRANTING FINAL JUDGMENT BY DEFAULT AGAINST DEFENDANT PATRIC KEN BACCAM, AND RELIEF DEFENDANTS PRECISION RESEARCH GROUP LLC AND PRIM GROUP LLC

          HONORABLE S. JAMES OTERO UNITED STATES DISTRICT JUDGE

         This matter came to be heard upon the motion of Plaintiff Securities and Exchange Commission (“SEC” or “Commission”) for entry of a default judgment against Defendant Ken Patric Baccam, a/k/a Khanh Sengpraseuth, and Relief Defendants Precision Research Group LLC (“Precision Research”) and Prim Group LLC (“Prim Group”) pursuant to Fed.R.Civ.P. 55(b)(2) and Local Rule 55-1. The Court has considered all of the evidence filed by the SEC in support of its motion and orders as follows:

         I.

         IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that the Commission's Motion for Entry of Default Judgment Against Defendant Baccam and Relief Defendants Precision Research and Prim Group is GRANTED.

         II.

         IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant Baccam 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 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 Final Judgment by personal service or otherwise: (a) Defendant Baccam's officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or participation with Defendant Baccam or with anyone described in (a).

         III.

         IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant Baccam is permanently restrained and enjoined from violating Section 17(a) of the Securities Act of 1933 (the “Securities Act”), 15 U.S.C. § 77q(a), 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;
(b) to obtain money or property by means of any untrue statement of a material fact or any omission of a material fact necessary in order to make the statements made, in light of the circumstances ...

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