01/27/2011 50 UNCONTESTED MOTION for Permanent Injunction by Securities And Exchange Commission (Attachments: # 1 Consent of James Turek, # 2 Proposed Order)(Gegenheimer, Nancy) Modified text on 1/28/2011 (STB). (Entered: 01/27/2011)
Attachment Description 1 Consent of James Turek 7 pages 244 kb 2 Proposed Order 6 pages 28 kb
Extract - Doc 50 PDF file
6. That Defendant is liable for disgorgement of $2,600,000, together with prejudgment interest thereon in the amount of $557,836.41, for a total amount of $3,157,836.41. Based on the sworn representations in the Statement of Financial Condition of James N. Turek dated September 22, 2008 and updated August17, 2010, and other documents and information submitted to the Commission, the Court is not ordering Defendant to pay a civil penalty, and payment of $3,157,836.41 disgorgement and pre-judgment interest is waived. That the Order provide that the determination not to impose a civil penalty and to waive payment of disgorgement and prejudgment interest is contingent upon the accuracy and completeness of Defendant’s Statement of Financial Condition and that if at any time following the entry of the final judgment the Commission obtains information indicating that Defendant’s representations to the Commission concerning his assets, income, liabilities, or net worth were fraudulent, misleading, inaccurate, or incomplete in any material respect as of the time such representations were made, the Commission may, at its sole discretion and without prior notice to Defendant, petition the Court for an order requiring Defendant to pay the unpaid portion of the disgorgement, pre-judgment and post-judgment interest thereon, and the maximum civil penalty allowable under the law. In connection with any such petition, the only issue shall be whether the financial information provided by Defendant was fraudulent, misleading, inaccurate, or incomplete in any material respect as of the time such representations were made. In its petition, the Commission may move this Court to consider all available remedies, including, but not limited to, ordering Defendant to pay with funds or other assets, directing the forfeiture of any assets, or sanctions for contempt of the final judgment. The Commission may also request additional discovery. Defendant may not, by way of defense to such petition: (1) challenge the validity of the Consent or this Final Judgment; (2) contest the allegations in the Complaint filed by the Commission; (3) assert that payment of disgorgement, pre-judgment and post judgment interest or a civil penalty should not be ordered; (4) contest the amount of disgorgement and pre-judgment and post judgment interest; (5) contest the imposition of the maximum civil penalty allowable under the law; or (6) assert any defense to liability or remedy, including, but not limited to, any statute of limitations defense.
Entry of the proposed order for permanent injunction, resolves all the issues in this case. There being no reason for delay, the SEC respectfully requests pursuant to Fed. R.Civ.P. 54(b) that a final judgment be entered.
Dated: January 27, 2011 Respectfully submitted, s/Nancy J. Gegenheimer Nancy J. Gegenheimer U.S. Securities and Exchange
Pacer update 11 Feb 11 Case Number 5:08-cv-00395-JBC Securities And Exchange Commission v. Turek et al
Date Filed # Docket Text
02/11/2011 56 Mail Returned as Undeliverable. Mail sent to James Turek re 52 Order on Motion for Permanent Injunction, 53 Judgment. Mail resent to Turek at address noted on forwarding order label. (STB) (Entered: 02/11/2011)
02/04/2011 55 JUDGMENT: this action CLOSED and STRICKEN from active docket. Signed by Judge Jennifer B Coffman on 2/4/2011.(STB)cc: COR, J. Turek (Entered: 02/04/2011)
02/04/2011 54 ORDER, 51 MOTION to Dismiss by Securities And Exchange Commission GRANTED; Promotional Containers, Inc., Telcoblue, Inc., Lexreal Co. LLC and Plasticon International, Inc. DISMISSED WITHOUT PREJUDICE; 39 MOTION for Summary Judgment by Securities And Exchange Commission DENIED AS MOOT. Signed by Judge Jennifer B Coffman on 2/4/2011.(STB)cc: COR, J Turek Modified cc on 2/4/2011 (STB). (Entered: 02/04/2011)
02/04/2011 53 JUDGMENT in favor of Securities And Exchange Commission against James N. Turek. Terms of Judgment as noted herein. Signed by Judge Jennifer B Coffman on 2/4/2011.(STB)cc: COR (Entered: 02/04/2011)
02/03/2011 52 ORDER OF PERMANENT INJUNCTION AND OTHER RELIEF: granting 50 Uncontested Motion for Permanent Injunction. Terms as noted in order. Signed by Judge Jennifer B Coffman on 2/3/2011. (STB)cc: COR, J. Turek. Modified cc on 2/3/2011 (STB). (Entered: 02/03/2011)
Defendant James N. Turek jnturek@gmail.com; cell phone 859-806-0999
represented by James N. Turek 1795 Alysheba Way Suite 3105 Lexington, KY 40509 859-368-8908
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