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offsetting against wages to be disgorged those wages earned for "provid[ing] real and valuable services"
Summary of this case from Securities and Exchange Commission v. OlinesOpinion
CASE NO. 1:02-cv-1118-DFH-VSS.
December 15, 2005
SEPARATE FINAL JUDGMENT AGAINST DEFENDANT J. PERRY GRUBBS
The matter having been tried to a jury, and the jury having found against defendant J. Perry Grubbs, and the court having issued its entry on equitable and financial relief, the court hereby ORDERS, ADJUDGES, AND DECREES AS FOLLOWS:
1. Defendant J. Perry Grubbs is hereby PERMANENTLY ENJOINED from violating Section 17(a) of the Securities Act of 1933, as amended, Section 10(b) of the Securities Exchange Act of 1934, as amended, and SEC Rule 10b-5, and from future service as an officer or director of any issuer of securities registered pursuant to 15 U.S.C. § 78l or of any broker-dealer required to file reports pursuant to 15 U.S.C. § 78o(d).
2. Defendant J. Perry Grubbs shall pay to the Securities and Exchange Commission the sum of Forty-four Thousand Five Hundred Dollars ($44,500.00), plus simple interest at six percent per annum from December 31, 2001, as a disgorgement of unlawful profits.
3. Defendant J. Perry Grubbs shall pay to the Securities and Exchange Commission the further sum of One Hundred-twenty Thousand Dollars ($120,000.00) as a third-tier civil penalty.