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Securities and Exchange Commission v. Kaplan

United States District Court, D. Nevada, Northern Division

January 8, 2018

SECURITIES AND EXCHANGE COMMISSION, Plaintiff,
v.
DAVID B. KAPLAN, ESQ., SYNCHRONIZED ORGANIZATIONAL SOLUTIONS, LLC, SYNCHRONIZED ORGANIZATIONAL SOLUTIONS INTERNATIONAL, LTD., and MANNA INTERNATIONAL ENTERPRISES, INC., Defendants, and LISA M. KAPLAN, THE WATER-WALKING FOUNDATION, INC., and MANNA INVESTMENTS, LLC, Relief Defendants.

          Alyssa A. Qualls (IL Bar No. 6292124), Amy S. Cotter (IL Bar No. 6238157), Raven A. Winters (IL Bar No. 6291077), Attorneys for Plaintiff Robert J. Burson, Associate Regional Director Amy S. Cotter, Assistant Regional Director Alyssa A. Qualls, Regional Trial Counsel Securities and Exchange Commission

          STIPULATION FOR ENTRY OF FINAL JUDGMENT AGAINST RELIEF DEFENDANT LISA M. KAPLAN

          Honorable Miranda Du United States District Judge.

         IT IS HEREBY STIPULATED AND AGREED, by and between the undersigned parties, as follows:

         1. The United States Securities and Exchange Commission (the “Commission”) and Relief Defendant Lisa M. Kaplan (“Relief Defendant, ” and together with the Commission, the “Parties”) jointly move this Court to enter final judgment against Relief Defendant. The Parties have reached a settlement, and jointly move this Court to enter the proposed final judgment and resolve this matter.

         2. The Parties have reached a settlement to resolve all claims against Relief Defendant. The settlement includes: (1) disgorgement; and (2) prejudgment interest.

         3. A proposed final judgment as to Relief Defendant is attached as Exhibit A. Among other things, the proposed final judgment orders Relief Defendant to pay disgorgement in the amount of $340, 764.75, plus prejudgment interest thereon in the amount of $26, 762.65.

         4. Relief Defendant shall partially satisfy this obligation through the transfer of balances held in the frozen accounts after entry of this Final Judgment, as set forth in sections II to V of Exhibit A.

         5. Without either admitting or denying the allegations of the complaint in this action, Relief Defendant has consented to the entry of the proposed final judgment, as reflected in the Consent attached as Exhibit B.

         6. The settlement brings the litigation to a close, without the need for a trial, and thus conserves the resources of the Court and the Parties.

         7. The Parties agree that entry of the proposed final judgment is in the public interest, and is a fair and reasonable resolution of this matter. See SEC v. Citigroup Global Markets, Inc., 752 F.3d 285 (2d Cir. 2014).

         8. The Parties respectfully request the entry of final judgment at the Court's earliest convenience.

         WHEREFORE, for the foregoing reasons, the parties jointly move this Court for entry of final judgment against Relief Defendant.

         EXHIBIT A

         FINAL JUDGMENT AS TO RELIEF DEFENDANT LISA M. KAPLAN

         The Securities and Exchange Commission having filed a Complaint, Relief Defendant Lisa M. Kaplan (“Relief Defendant”) having entered a general appearance; consented to the Court's jurisdiction over Relief Defendant and the subject matter of this action; consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction and except as otherwise provided herein in paragraph VI); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment:

         I.

         IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Relief Defendant is liable for disgorgement of $340, 764.75, representing funds received as a result of the conduct alleged in the Complaint, together with prejudgment interest thereon in the amount of $26, 762.65. Relief Defendant shall partially satisfy this obligation through the transfer of balances held in the frozen accounts after entry of this Final Judgment, as set forth in paragraphs II to V below. Any amounts paid toward disgorgement by Relief Defendant shall be credited against the amount Defendants have been ordered to disgorge.

         The Commission may enforce the Court's judgment for disgorgement and prejudgment interest by moving for civil contempt (and/or through other collection procedures authorized by law) at any time after 14 days following entry of this Final Judgment. Relief Defendant shall pay post judgment interest on any delinquent amounts pursuant to 28 U.S.C. § 1961. The Commission shall hold the funds, together with any interest and income earned thereon (collectively, the “Fund”), pending further order of the Court.

         The Commission may propose a plan to distribute the Fund subject to the Court's approval. Such a plan may provide that the Fund shall be distributed pursuant to the Fair Fund provisions of Section 308(a) of the Sarbanes-Oxley Act of 2002. The Court shall retain jurisdiction over the administration of any distribution of the Fund. If the Commission staff determines that the Fund will not be distributed, the Commission shall send the funds paid pursuant to this Final Judgment to the United States Treasury.

         II.

         IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that within 3 days after being served with a copy of this Final Judgment, TD Ameritrade (“TD Ameritrade”) shall transfer the entire balance of the following TD Ameritrade account which was frozen pursuant to an Order of this Court to the Commission:

Account Owner

Acct. Ending in

Kaplan, Lisa M.

#XXX-2764 TD

         TD Ameritrade may transmit payment electronically to the Commission, which will provide detailed ACH transfer/Fedwire instructions upon request. Payment may also be made directly from a bank account via Pay.gov through the SEC website at http://www.sec.gov/about/offices/ofm.htm. TD Ameritrade also may transfer these funds by certified check, bank cashier's check, or United States postal money order payable to the Securities and Exchange Commission, which shall be delivered or mailed to

Enterprise Services Center Accounts Receivable Branch 6500 South MacArthur Boulevard Oklahoma City, OK 73169

         and shall be accompanied by a letter identifying the case title, civil action number, and name of this Court; and specifying that ...


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