Search Any Latest Music Below

Kokesh to Pay $5million in SEC Case on Remand from Supreme Court

Charles Kokesh, who won a
unanimous U.S. Supreme
Court ruling in June over
whether there was a five-
year statute of limitations in
connection with his
allegedly illegal activities, must still disgorge $5 million, a federal
appeals court said on Monday.

However, that sum is significantly less than the $34.9 million Mr.
Kokesh was originally told to pay.
The case of Securities and Exchange Commission v. Charles
Kokesh has a long litigation history.

The SEC had charged Mr.
Kokesh with misappropriating funds from four business
development companies in violation of federal securities laws
from 1995 through 2006.

Following a jury trial, in 2014 the U.S. District Court in Las Cruces,
New Mexico, ordered the disgorgement of $34.9 million plus
prejudgment interest of $18.1 million and imposed a $2.4 million
civil penalty.

In August 2016, the 10th U. S. Circuit Court of Appeals in Denver
held the SEC was not subject to a five-year statute of limitations,
and Mr. Kokesh appealed.

However, after a contradictory opinion was issued by another
appeals court, the U.S. Supreme Court said in a unanimous 9-0
ruling in June 2017 in Mr. Kokesh’s case that the SEC’s
disgorgement recovery method is subject to a five-year statute
of limitations.

Monday’s ruling by the 10h Circuit focused on the issue of
whether, in light of the Supreme Court’s ruling, Mr. Kokesh is
obligated to pay $5 million in connection with activities that
occurred with the five -year limitation period.

The statute-of-limitations issue in this case “turns on whether
defendant’s misappropriation of funds … are properly viewed as
a continuing violation or as a number of discrete wrongs,” said
the ruling.

In ruling for the latter, the decision said: “To hold that Defendant’s
misappropriations constituted only one continuing violation
would do much more than provide repose for ancient misdeeds;
it would confer immunity for ongoing misconduct …

“We cannot continence such a result, nor do we think that a
proper interpretation of (the Supreme Court opinion) requires use
to,” said the ruling, in remanding the case with instructions to
require Mr. Kokesh to disgorge more than $5 million.

Olamide New Songs
Davido New Songs
Phyno New Songs
Ghana Music Songs
olamide latest Songs
shatta wale new 2019 songs
AKA latest Songs
latest music 2019
latest songs 2019
latest 2019 Naija Music
davido new 2019 songs
latest South Africa Music 2019
wizkid new 2019 songs
2019 latest songs
tekno new 2019 songs
sarkodie new 2019 songs
Phyno new songs
latest Ghana songs 2019
latest Nigeria music 2019
new Naija music 2019
Latest Burna Boy 2019 Songs
Latest Falz 2019 Songs
Latest Patoranking 2019 Songs
Latest Tiwa Savage 2019 Songs
Latest Harrysong 2019 Songs
Latest Emtee 2019 Songs
Latest Runtown 2019 Songs
Latest Flavour 2019 Songs
Latest Timaya 2019 Songs
Latest Distruction Boyz 2019 Songs
Latest Nasty 2019 Songs
Latest Dremo 2019 Songs
Latest CDQ 2019 Songs
Latest Yung6ix 2019 Songs
Latest Lil kesh 2019 Songs
Latest Reekado Banks 2019 Songs
Latest Dbanj 2019 Songs
Latest Ycee 2019 Songs
Latest Simi 2019 Songs
Latest Yemi Alade 2019 Songs
Latest Kizz Daniel 2019 Songs
Latest Dammy Krane 2019 Songs
Latest Reminisce 2019 Songs

About Author


Related Posts

Leave a comment


Name Below (Required)      


© 2018 MP3GIST.COM Mp3 Mp4 Mkv Videos And Music Download. flexyjam, fakaza, hiphopza, naijaloaded, tooxlcusive, waploaded, netnaija, 9jaflaver
About us || Content Removal ||Privacy Policy || Contact us || Advertise Here