Judge: SEC’s Request For Default Judgment Meets 9th Circuit Requirements
(July 15, 2016, 12:24 AM EDT) -- LOS ANGELES — A federal judge in California on July 8 granted the Securities and Exchange Commission’s motion for entry of default judgment in an enforcement action, ruling that the commission met the requirements set in Ninth Circuit U.S. Court of Appeals precedent for such a ruling (Securities and Exchange Commission v. Robert Seibert, a.k.a. John Gray, No. 15-9331, C.D. Calif.; 2016 U.S. Dist. LEXIS 90300).
(Order available. Document #57-160718-027R.)
The SEC alleged that Robert Seibert, through his investment company, Universal Stock Transfer (UST), fraudulently induced...