That is simply incorrect.. Foley signed a legal
Post# of 96897
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Posted On: 12/20/2019 12:40:29 PM
That is simply incorrect..
Foley signed a legally-binding document consenting that the SEC's original allegations in the original complaint were true, and further, "that any debt for disgorgement, prejudgement interest, civil penalty or other amounts due by Defendant under the Judgement or any other Judgement entered in connection with this proceeding is a debt for violation by the Defendant..."
We already know from the SEC documentation filed in the Foley BK case that the SEC is looking for disgorgement of $9 million alone. What you've neglected to realize is that Foley has thrown himself on the mercy of the courts now. When the final disgorgement, prejudgement interest, civil penalties and other amounts due are disclosed in the final ruling, are you suggesting they will be ZERO? I suggest you read the full documentation in this case as well as that already filed by the SEC in the abandoned BK case - then get back to me.
All this is today is confirmation that Foley is no longer allowed to fight any civil financial pain coming his way courtesy of the SEC's case or be involved in OTC stocks. And we already know the minimum the SEC is going after in terms of financial fines courtesy of their recently-filed documentation in Foley's BK case.
And of course, now it's time for the DOJ to have their say in Federal Court, which he retains his right to fight.
Foley signed a legally-binding document consenting that the SEC's original allegations in the original complaint were true, and further, "that any debt for disgorgement, prejudgement interest, civil penalty or other amounts due by Defendant under the Judgement or any other Judgement entered in connection with this proceeding is a debt for violation by the Defendant..."
We already know from the SEC documentation filed in the Foley BK case that the SEC is looking for disgorgement of $9 million alone. What you've neglected to realize is that Foley has thrown himself on the mercy of the courts now. When the final disgorgement, prejudgement interest, civil penalties and other amounts due are disclosed in the final ruling, are you suggesting they will be ZERO? I suggest you read the full documentation in this case as well as that already filed by the SEC in the abandoned BK case - then get back to me.
All this is today is confirmation that Foley is no longer allowed to fight any civil financial pain coming his way courtesy of the SEC's case or be involved in OTC stocks. And we already know the minimum the SEC is going after in terms of financial fines courtesy of their recently-filed documentation in Foley's BK case.
And of course, now it's time for the DOJ to have their say in Federal Court, which he retains his right to fight.
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