Replies to post #112811 on MedGen Inc (MDIN)

[Scumbag Fraudsters]

flaflyersfan, look up "disgorgement."

Here, I’ll save you the trouble:

Legal definition of disgorgement

Disgorgement is the act of giving up something such as the profits obtained by illegal or unethical acts on demand or by legal compulsion. Courts can order wrongdoers to pay back illegal profits to prevent unjust enrichment.

SEC information for harmed investors

When the SEC brings a successful enforcement action, in court or in an administrative proceeding, the court or the SEC may order the individual or entity to disgorge the funds (give up the ill-gotten gains) resulting from the illegal conduct. The disgorged funds may be distributed to investors who were harmed or injured by the securities violation.

One step in the process of distributing money to harmed investors is the collection of civil monetary penalties and disgorgement ordered by a court or the SEC. In fiscal year 2013, the SEC collected more than $1.6 billion in monetary penalties and disgorgement that were ordered that year. When a monetary penalty or disgorgement is not paid as ordered, the SEC’s Division of Enforcement has an Office of Collections that uses every available method to identify, liquidate, and collect assets that can be used to satisfy the delinquent debt. These efforts may include sending a demand letter, negotiating a payment plan, filing a property lien, garnishing wages, or filing a contempt action in federal court.