Securities and Exchange Commission v. Yin Nan Michael Wang et al

Filing 391

FINAL JUDGMENT AS TO VELOCITY INVESTMENT GROUP, INC.; BIO PROFIT SERIES I, LLC; BIO PROFIT SERIES II, LLC; BIO PROFIT SERIES III, LLC; BIO PROFIT SERIES V, LLC; ROCKWELL REALTY MANAGEMENT, INC. by Judge John A. Kronstadt. 350 , 351 , 352 , 353 , 354 , 355 , (MD JS-6, Case Terminated). (pso)

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1 2 3 4 5 6 7 8 UNITED STATES DISTRICT COURT 9 CENTRAL DISTRICT OF CALIFORNIA 10 11 12 SECURITIES AND EXCHANGE COMMISSION, 13 Plaintiff, 14 15 vs. 19 YIN NAN “MICHAEL” WANG, WENDY KO, VELOCITY INVESTMENT GROUP, INC., BIO PROFIT SERIES I, LLC, BIO PROFIT SERIES II, LLC, BIO PROFIT SERIES III, LLC, BIO PROFIT SERIES V, LLC, and ROCKWELL REALTY MANAGEMENT, INC., 20 Defendants. 16 17 18 21 22 23 24 25 26 27 28 Case No. LA CV13-7553-JAK(SSx) FINAL JUDGMENT AS TO VELOCITY INVESTMENT GROUP, INC.; BIO PROFIT SERIES I, LLC; BIO PROFIT SERIES II, LLC; BIO PROFIT SERIES III, LLC; BIO PROFIT SERIES V, LLC; ROCKWELL REALTY MANAGEMENT, INC. JS-6 1 The Securities and Exchange Commission having filed a Complaint and 2 Velocity Investment Group, Inc., Bio Profit Series I, LLC, Bio Profit Series, II, LLC, 3 Bio Profit Series III, LLC, Bio Profit Series V, LLC, and Rockwell Realty 4 Management, Inc. (collectively, “Defendants”) having entered a general appearance; 5 consented to the Court’s jurisdiction over Defendants and the subject matter of this 6 action; consented to entry of this Final Judgment without admitting or denying the 7 allegations of the Complaint (except as to jurisdiction and except as otherwise 8 provided herein in paragraph III); waived findings of fact and conclusions of law; and 9 waived any right to appeal from this Judgment: I. 10 11 IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendants 12 and Defendants’ agents, servants, employees, attorneys, and all persons in active 13 concert or participation with them who receive actual notice of this Final Judgment 14 by personal service or otherwise are permanently restrained and enjoined from 15 violating, directly or indirectly, Section 10(b) of the Securities Exchange Act of 1934 16 (the “Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5 promulgated thereunder 17 [17 C.F.R. § 240.10b-5], by using any means or instrumentality of interstate 18 commerce, or of the mails, or of any facility of any national securities exchange, in 19 connection with the purchase or sale of any security: 20 (a) to employ any device, scheme, or artifice to defraud; 21 (b) to make any untrue statement of a material fact or to omit to state a 22 material fact necessary in order to make the statements made, in the light 23 of the circumstances under which they were made, not misleading; or 24 25 26 27 28 (c) to engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person. II. IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendants and Defendants’ agents, servants, employees, attorneys, and all persons in 1 1 active concert or participation with them who receive actual notice of this Final 2 Judgment by personal service or otherwise are permanently restrained and enjoined 3 from violating Section 17(a) of the Securities Act of 1933 (the “Securities Act”) [15 4 U.S.C. § 77q(a)] in the offer or sale of any security by the use of any means or 5 instruments of transportation or communication in interstate commerce or by use of 6 the mails, directly or indirectly: 7 (a) to employ any device, scheme, or artifice to defraud; 8 (b) to obtain money or property by means of any untrue statement of a 9 material fact or any omission of a material fact necessary in order to 10 make the statements made, in light of the circumstances under which 11 they were made, not misleading; or 12 (c) operates or would operate as a fraud or deceit upon the purchaser. 13 III. 14 15 to engage in any transaction, practice, or course of business which IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, solely for 16 purposes of exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 17 11 U.S.C. §523, the allegations in the complaint are true and admitted by Defendants, 18 and further, any debt for disgorgement, prejudgment interest, civil penalty or other 19 amounts due by Defendants under this Judgment or any other judgment, order, 20 consent order, decree or settlement agreement entered in connection with this 21 proceeding, is a debt for the violation by Defendants of the federal securities laws or 22 any regulation or order issued under such laws, as set forth in Section 523(a)(19) of 23 the Bankruptcy Code, 11 U.S.C. §523(a)(19). 24 25 IV. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court 26 shall retain jurisdiction of this matter for the purposes of enforcing the terms of this 27 Judgment. 28 2 1 V. 2 There being no just reason for delay, pursuant to Rule 54(b) of the Federal 3 Rules of Civil Procedure, the Clerk is ordered to enter this Judgment forthwith and 4 without further notice. 5 IT IS SO ORDERED. 6 7 8 9 Dated: April 10, 2018 ____________________________________ JOHN A. KRONSTADT UNITED STATES DISTRICT JUDGE 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 3

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