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Securities and Exchange Commission v. Staples

United States District Court, D. South Carolina, Columbia Division

August 5, 2016

SECURITIES AND EXCHANGE COMMISSION, Plaintiff,
v.
BENJAMIN SIDNEY STAPLES, an Individual and BENJAMIN ONEAL STAPLES, an Individual, Defendants, and BRIAN STAPLES, Relief Defendant.

          United States Securities and Exchange Commission, Plaintiff, represented by Barbara Murcier Bowens, U.S. Attorneys Office, James C. Leventis, Jr., U.S. Attorneys Office, Amy J. Oliver, United States Securities and Exchange Commission, pro hac vice, Daniel J. Wadley, U.S. Securities and Exchange Commission, pro hac vice & Tanya G. Beard, U.S. Securities and Exchange Commission, pro hac vice.

          Benjamin Sydney Staples, Defendant, represented by Michael Hart Montgomery, Montgomery Willard.

          FINAL JUDGMENT AS TO DEFENDANT BENJAMIN SIDNEY STAPLES

          J. MICHELLE CHILDS, District Judge.

         The Securities and Exchange Commission having filed a Complaint and Defendant Benjamin Sidney Staples having entered a general appearance; consented to the Court's jurisdiction over Defendant and the subject matter of this action; consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction and except as otherwise provided herein in paragraph V); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment:

         I.

         IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that the charges against Defendant of violations of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder and Section 17(a)(1) of the Securities Act, are dismissed with prejudice.

         II.

         IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is permanently restrained and enjoined from violating Section 17(a) (2) and (3) of the Securities Act of 1933 (the "Securities Act") [15 U.S.C. § 77q(a)(2) and (3)] in the offer or sale of any security by the use of any means or instruments of transportation or communication in interstate commerce or by use of the mails, directly or indirectly:

(a) to obtain money or property by means of any untrue statement of a material fact or any omission of a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading; or
(b) to engage in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser.

         IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who receive actual notice of this Final Judgment by personal service or otherwise: (a) Defendant's officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or participation with Defendant or with anyone described in (a).

         III.

         IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is liable for disgorgement of $58, 049.63, representing profits gained as a result of the conduct alleged in the Complaint, together with prejudgment interest thereon in the amount of $5, 804.97. Defendant shall satisfy this obligation by paying $63, 854.60 to the Securities and Exchange Commission within 14 days after entry of this Final Judgment.

         Defendant may transmit payment electronically to the Commission, which will provide detailed ACH transfer/Fedwire instructions upon request. Payment may also be made directly from a bank account via Pay.gov through the SEC website at http://www.sec.gov/about/offices/ofm.htm. Defendant may also pay by certified check, bank cashier's check, or United States ...


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