The Commission accused the defendants of violating the anti-fraud provisions of the federal securities laws. It is seeking a court order imposing preliminary and permanent injunctions, disgorgement, prejudgment interest, civil penalties, an asset freeze against the defendants. It is also requesting the court to appoint a receiver to take charge of the defendants’ remaining assets for the benefit of their victims.
On August 24, the court granted a temporary restraining order and asset freeze against the defendants. The court also ordered an expedited discovery.
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