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United States Securties and Exchange Commission v. Kaiser

United States District Court, C.D. California

October 25, 2019

UNITED STATES SECURITIES AND EXCHANGE COMMISSION, Plaintiff/Applicant,
v.
JEROME KAISER, CPA, Defendant/Respondent,

          Shuman Sohrn (admitted pro hac vice) Attorney for U.S. Securities and Exchange Commission

          FINAL JUDGMENT AS TO JEROME KAISER, CPA

          HONORABLE JAMES V. SELNA UNITED STATES DISTRICT COURT JUDGE.

         THIS MATTER comes before the Court on the Plaintiff/Petitioner's Application for an order compelling Respondent Jerome Kaiser, CPA (“Kaiser” or “Respondent”) to show cause why a judgment should not be entered against him pursuant to Section 21(e) of the Securities Exchange Act of 1934 (the “Exchange Act”), 15 U.S.C. § 78u(e)(1).

         It is ORDERED, ADJUDGED AND DECREED that judgment is entered in favor of the United States Securities and Exchange Commission (the “Commission”) against Defendant Kaiser for disgorgement in the amount of $15, 000, plus all accrued post-order interest through the entry of this Final Judgment.

         It is further ORDERED, ADJUDGED AND DECREED that judgment is entered in favor of the United States Securities and Exchange Commission against Defendant Kaiser for a civil monetary penalty in the amount of $60, 000, plus all accrued post-order interest through the entry of this Final Judgment.

         It is further ORDERED, ADJUDGED AND DECREED that the amounts awarded herein shall be subject to post-judgment interest, pursuant to § 28 U.S.C. 1961, from the date of this Final Judgment until the date all amounts owed have been paid.

         It is further ORDERED, ADJUDGED AND DECREED that Defendant 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 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; the name of the defendant in this action; and specifying that payment is made pursuant to this Final Judgment.

         It is further ORDERED, ADJUDGED AND DECREED that Defendant 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.

         It is further ORDERED, ADJUDGED AND DECREED that the non-monetary terms of the Commission's Administrative Order rendered against Defendant on April 9, 2015 are fully incorporated herein and subject to enforcement through this Final Judgment. Accordingly, it is hereby further ORDERED that:

(a) Defendant shall cease and desist from committing or causing any violations and any future violations of Section 17(a) of the Securities Act of 1933 (the “Securities Act”) and Sections 10(b) of the Exchange Act and Rule 10b-5 thereunder;
(b) Pursuant to Section 8A(f) of the Securities Act and Section 21C(f) of the Exchange Act, Defendant is prohibited, for ten years following the date of entry of the Commission's Administrative Order (entered April 9, 2015), from acting as an officer or director of any issuer that has a class of securities registered pursuant to Section 12 of the Exchange Act, or that is required to file reports pursuant to Section 15(d) of the Exchange Act; and (c) Defendant is denied the privilege of appearing or practicing before the Commission as an accountant.
(d) After ten years from the date of the Commission's Administrative Order, Defendant may request that the Commission consider his reinstatement by submitting an application (attention: Office of the Chief Accountant) to ...

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