Securities and Exchange Commission v. Justin Moongyu Lee et al

Filing 42

FINAL JUDGMENT BY DEFAULT TO DEFENDANTS JUSTIN MOONGYU LEE; AMERICAN IMMIGRANT INVESTMENT FUND I, LLC; BIOFUEL VENTURE IV, LLC; BIOFUEL VENTURE V, LLC; NEXLAND, INC., DBA NEXLAND INVESTMENT GROUP; AND NEXSUN ETHANOL, LLC, by Judge R. Gary Klausner, I T IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant J.Lee and the Entity Defendants are permanently restrained and enjoined fromviolating Section 17(a) of the Securities Act of 1933 (the "Securities Act") [15 U.S.C.§ 77q(a)] in t he 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 o btain 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 under which they were made, not misleading; or(c) to enga ge in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that DefendantJ. Lee and the Entity Defendants are liable, jointly and severa lly, for disgorgement of$7,210,000, representing profits gained as a result of the conduct alleged in the Complaint, together with prejudgment interest thereon in the amount of $1,052,403.73, for a total of $8,262,403.73. Defendants shall satisfy this obligationby paying $8,262,403.73 to the Securities and Exchange Commission within 14 days after entry of this Final Judgment. See Judgment For Further Specifics. (bp)