Post by swampdog on Nov 10, 2011 15:55:44 GMT -6
They are reopening an old "summary judgement", now someone might wonder why that would happen? Notice the length of time granted to research this subject.
Looks like the CMKM matter will take some more time.
Swamp
In the Matter of 1st Global Stock Transfer LLC and Helen Bagley
On November 4, 2011, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Sections 17A(c)(3) and 17A(c)(4) of the Securities Exchange Act of 1934, and Notice of Hearing against 1st Global Stock Transfer LLC and Helen Bagley.
The Order alleges that on August 1, 2011, after the Commission’s motion for summary judgment against the Respondents was granted, a final judgment was entered against the Respondents by the District Court in SEC v. CMKM Diamonds, Inc., et al., 2:08-cv-0437-LRH-RJJ (D. Nev.), permanently enjoining them from violating the securities registration provisions of the Securities Act, and additionally permanently barring Bagley from participating in an offering of penny stock. The Order further alleges that in granting the Commission summary judgment, the Court concluded that it was undisputed that Bagley was the individual who removed the restrictive legends from stock certificates for at least 270 billion shares of CMKM Diamonds, Inc. stock and that both Respondents were necessary participants and substantial factors in the sale of unrestricted CMKM stock in violation of Section 5 of the Securities Act.
A hearing will be held to determine whether the allegations in the Order are true, and what, if any remedial action is appropriate in the public interest against the Respondents. The Administrative Law Judge is expected to issue an initial decision within 210 days from service of the Order. (Rel. 34-65693; File No. 3-14614)
www.sec.gov/news/digest/2011/dig110411.htm
and here is the actual "administrative briefing"
www.sec.gov/litigation/admin/2011/34-65693.pdf
Looks like the CMKM matter will take some more time.
Swamp
In the Matter of 1st Global Stock Transfer LLC and Helen Bagley
On November 4, 2011, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Sections 17A(c)(3) and 17A(c)(4) of the Securities Exchange Act of 1934, and Notice of Hearing against 1st Global Stock Transfer LLC and Helen Bagley.
The Order alleges that on August 1, 2011, after the Commission’s motion for summary judgment against the Respondents was granted, a final judgment was entered against the Respondents by the District Court in SEC v. CMKM Diamonds, Inc., et al., 2:08-cv-0437-LRH-RJJ (D. Nev.), permanently enjoining them from violating the securities registration provisions of the Securities Act, and additionally permanently barring Bagley from participating in an offering of penny stock. The Order further alleges that in granting the Commission summary judgment, the Court concluded that it was undisputed that Bagley was the individual who removed the restrictive legends from stock certificates for at least 270 billion shares of CMKM Diamonds, Inc. stock and that both Respondents were necessary participants and substantial factors in the sale of unrestricted CMKM stock in violation of Section 5 of the Securities Act.
A hearing will be held to determine whether the allegations in the Order are true, and what, if any remedial action is appropriate in the public interest against the Respondents. The Administrative Law Judge is expected to issue an initial decision within 210 days from service of the Order. (Rel. 34-65693; File No. 3-14614)
www.sec.gov/news/digest/2011/dig110411.htm
and here is the actual "administrative briefing"
www.sec.gov/litigation/admin/2011/34-65693.pdf
