Securities and Exchange Commission v. Gold Standard Mining Corp et al

Filing 101

FINAL JUDGMENT AS TO KENNETH G EADE by Judge Jesus G. Bernal, in favor of Securities and Exchange Commission against Kenneth G Eade Related to: Joint MOTION for Entry of Judgment pursuant to Rule 54(b) as to Kenneth G. Eade 99 . (See document for details) (mrgo)

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UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA
WESTERN DIVISION
Securities and Exchange
Commission,
Plaintiff

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v.

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Gold Standard Mining Corp., et al.
Defendants.

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) Case No. 2:12-cv-5662 JGB-CW
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) FINAL JUDGMENT
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AS TO
) KENNETH G. EADE
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The Securities and Exchange Commission (“SEC”) filed a Complaint; and

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Defendant KENNETH G. EADE (“Defendant” or “Eade”) having entered a

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general appearance; consented to the Court’s jurisdiction over Defendant and the

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subject matter of this action; consented to entry of this Final Judgment without

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admitting or denying the allegations of the Complaint (except as to jurisdiction

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and except as otherwise provided in paragraph IV); waived findings of fact and

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conclusions of law, and waived any right to appeal from this Final Judgment:
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I.
IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that

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Defendant and Defendant’s agents, servants, employees, attorneys, and all

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persons in active concert or participation with them who receive actual notice of

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this Final Judgment by personal service or otherwise are permanently restrained

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and enjoined from aiding and abetting any violation of Section 13(a) of the

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Securities Exchange Act of 1934 [15 U.S.C. § 78m(a)] or Rules 12b-20, 13a-11,

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and 13a-13 adopted thereunder [17 C.F.R. §§ 240.12b-20, 240.13a-11, and

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240.13a-13] by knowingly providing substantial assistance to an issuer that:

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(a)

fails to file with the Commission such information, document, or

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annual, quarterly or periodic reports that the Commission may

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require or prescribe pursuant to Section 13(a) of the Exchange Act or

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any of the rules, regulations or forms promulgated thereunder; or

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(b)

files with the Commission any information, document, or report, that

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contains any untrue statement of a material fact, omits any material

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information, or otherwise fails to comply with the provisions of

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Section 13(a) of the Exchange Act or any of the rules, regulations or

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forms thereunder; or

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(c)

fails to add or include, in addition to the information expressly

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required to be included in a statement or report, such further material

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information as may be necessary to make the required statements, in

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the light of the circumstances under which they were made, not

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misleading.

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II.

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IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that

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Defendant is liable for disgorgement of $34,250, representing profits gained as a

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result of the transaction alleged in the Complaint, together with prejudgment
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interest thereon in the amount of $5,379.52, for a total of $39,629.52. Defendant

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shall also pay a civil penalty in the amount of $34,500 pursuant to Section 21(d)

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of the Exchange Act [15 U.S.C. § 78u(d)]. Defendant shall satisfy these

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obligations by paying $74,129.52 to the Securities and Exchange Commission

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within 14 days after entry of this Final Judgment.

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Defendant may transmit payment electronically to the SEC, which will

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provide detailed ACH transfer/Fedwire instructions upon request. Payment may

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also be made directly from a bank account via Pay.gov through the SEC website

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at http://www.sec.gov/about/offices/ofm.htm. Defendants may also pay by

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certified check, bank cashier’s check, or United States postal money order

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payable to the Securities and Exchange Commission, which shall be delivered or

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mailed to:

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Enterprise Services Center

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Accounts Receivable Branch

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6500 South MacArthur Boulevard

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Oklahoma City, OK 73169

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Payment shall be accompanied by a letter identifying the case title, civil action

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number, name of this Court, Kenneth G. Eade as a defendant in this action; and

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specifying that payment is made pursuant to this Final Judgment.

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Defendant shall simultaneously transmit photocopies of evidence of
payment and case identifying information to the SEC’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.
The SEC shall send the funds paid pursuant to this Final Judgment to the United
States Treasury.
The Commission may enforce the Court’s order for disgorgement and
prejudgment interest by moving for civil contempt (and/or through other

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collection procedures authorized by law) at any time after 14 days following entry

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of this Final Judgment. Defendant shall pay post judgment interest on any

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delinquent amounts pursuant to 28 U.S.C. § 1961.

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III.

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IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the

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Consent is incorporated herein with the same force and effect as if fully set forth

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herein, and that Defendant shall comply with all of the undertakings and

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agreements set forth therein.

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IV.

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IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, solely

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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 disgorgement, 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 violation 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).

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V.

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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 Permanent Injunction.

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//

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VI.
There being no just reason for delay, pursuant to Rule 54(b) of the Federal

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Rules of Civil Procedure, the Clerk is ordered to enter Final Judgment forthwith

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and without further notice.

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Dated: September 30, 2014.

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____________________________________
Honorable Jesus G. Bernal
UNITED STATES DISTRICT JUDGE

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