United States Ninth Circuit

A disgorgement order against parties to a securities pyramid or Ponzi scheme, requiring disgorgement from a principal and his two companies, is affirmed where the district court did not abuse its discretion in assessing the amount of disgorgement against defendants or in imposing joint and several liability on defendants.

Appellate Information

• Argued 10/17/2005
• Decided 03/10/2006
• Published 03/10/2006

Judges

• FISHER, Circuit Judge., Before ANDREW J. KLEINFELD, A. WALLACE TASHIMA and RAYMOND C. FISHER, Circuit Judges.

Court

• United States Ninth Circuit

Counsel

• For Appellees:
  
• Huey P. Cotton and Christine E. Field, Cozen O'Connor, Los Angeles, CA, for the defendants-appellants., Mark Pennington, Assistant General Counsel, Securities and Exchange Commission, Washington, D.C., for the plaintiff-appellee.