What is the effect of the Judgment of Permanent Injunction and Other Relief to which Defendant Matthew La Madrid has consented?
On February 27, 2009, the SEC noticed Defendant LaMadrid’s consent to the entry of a Judgment of Permanent Injunction and Other Relief (the “Consent Judgment”) against him. By the terms of the Consent Judgment, while Defendant LaMadrid does not admit the allegations in the Commission’s Complaint against him, he: (1) agrees that judgment on the Complaint may be entered against him, and that he may not dispute the allegations in the Complaint; (2) acknowledges that he is permanently restrained from violating the identified securities laws; and (3) agrees to pay disgorgement and prejudgment interest to the Receiver, subject to a determination of an appropriate amount by the Court, upon motion by the SEC. The Consent Judgment does not end the receivership case, and the Receiver’s duties and efforts to provide an accounting and recover receivership assets continue. In addition, the Consent Judgment reserves the rights of the parties to engage in necessary discovery in connection with the SE
