Securities and Exchange Commission v. Thompson et al

Filing 155

FINAL JUDGMENT AS TO DEFENDANT JAY FUNG: IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is liable for disgorgement of $1,766,083.00, representing profits gained as a result of the conduct alleged in the Complaint, together wi th prejudgment interest thereon in the amount of $244,308.00, for a total of $2,010,391.00, provided, however, that this disgorgement and prejudgment interest award shall be deemed satisfied by the entry of the restitution order in People o f the State of New York against Anthony Thompson et al., Indictment No. 03853/2014 (Supreme Court, New York County). IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, 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 jud gment, 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). 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 Final Judgment. There being no just reason for delay, pursuant to Rule 54(b) of the Federal Rules of Civil Procedure, the Clerk is ordered to enter this Final Judgment forthwith and without further notice. (Signed by Judge Andrew L. Carter, Jr on 12/30/2020) (nb) Transmission to Finance Unit (Cashiers) for processing.

Case 1:14-cv-09126-ALC Document 155 Filed 12/30/20 Page 1 of 3

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK

12/30/2020

SECURITIES AND EXCHANGE
COMMISSION,
Plaintiff,
v.
14 Civ. 9126 (ALC)
ANTHONY J. THOMPSON Jr.,
JAY FUNG, and ERIC VAN NGUYEN,
Defendants,
JOHN BABIKIAN and KENDALL
THOMPSON,
Relief Defendants.
FINAL JUDGMENT AS TO DEFENDANT JAY FUNG
The Securities and Exchange Commission having filed a Complaint and Defendant Jay
Fung having entered a general appearance; consented to the Court’s jurisdiction over Defendant
and the subject matter of this action; consented to entry of this Final Judgment; waived findings
of fact and conclusions of law; and waived any right to appeal from this Final Judgment:
I.
IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant is
permanently restrained and enjoined from violating Section 17(b) of the Securities Act of 1933
(“Securities Act”) [15 U.S.C. § 77q(b)] by the use of any means or instruments of transportation
or communication in interstate commerce or by use of the mails, to publish, give publicity to, or
circulate any notice, circular, advertisement, newspaper, article, letter, investment service, or
communication which, though not purporting to offer a security for sale, describes such security
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Case 1:14-cv-09126-ALC Document 148 Filed 12/23/20 Page 2 of 3
155
12/30/20

for a consideration received or to be received, directly or indirectly, from an issuer, underwriter,
or dealer, without fully disclosing the receipt, whether past or prospective, of such consideration
and the amount thereof.
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’s
officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or
participation with Defendant or with anyone described in (a).
II.
IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant
is liable for disgorgement of $1,766,083.00, representing profits gained as a result of the conduct
alleged in the Complaint, together with prejudgment interest thereon in the amount of
$244,308.00, for a total of $2,010,391.00, provided, however, that this disgorgement and
prejudgment interest award shall be deemed satisfied by the entry of the restitution order in
People of the State of New York against Anthony Thompson et al., Indictment No. 03853/2014
(Supreme Court, New York County).
III.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the Consent is
incorporated herein with the same force and effect as if fully set forth herein, and that Defendant
shall comply with all of the undertakings and agreements set forth therein.

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IV.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, 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).
V.
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 Final Judgment.
VI.
There being no just reason for delay, pursuant to Rule 54(b) of the Federal Rules of Civil
Procedure, the Clerk is ordered to enter this Final Judgment forthwith and without further notice.
December 30
2020
Dated: ______________, _____

____________________________________
HONORABLE ANDREW L. CARTER, JR.
UNITED STATES DISTRICT JUDGE

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