Securities and Exchange Commission v. Farkas

Filing 45

MEMORANDUM OPINION Re: Pltf's Motion for Summary Judgment. Signed by District Judge Leonie M. Brinkema on 05/15/13. (pmil)

IN THE UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF VIRGINIA
Alexandria

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Division

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MAY 1 5 2013

SECURITIES AND EXCHANGE
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COMMISSION,

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Plaintiff

l:10-cv-667

(LMB/TRJ)

v.

LEE B. FARKAS,
Defendant.

MEMORANDUM OPINION

Before the Court is plaintiff Securities and Exchange
Commission's ("SEC") Motion for Summary Judgment [Dkt. No. 29],

which was filed on January 14, 2013 and provided defendant pro
se Lee B. Farkas ("Farkas") with the proper notice pursuant to
Roseboro v. Garrison,

528 F.2d 309 (4th Cir.

1975).

After

receiving two extensions of time in which to submit a response,
see Dkt. Nos. 38 & 40, Farkas filed an opposition brief, to

which the SEC has replied.

Having reviewed the issues raised in

plaintiff's motion, the Court has determined that oral argument

will not assist the decisional process, and will grant summary
judgment to the plaintiff for the reasons discussed below.
I.

BACKGROUND

This civil action follows upon the defendant's conviction

in this district for conspiracy to hide the financial troubles

of Taylor, Bean, & Whitaker Mortgage Corporation ("TBW") by

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