Cheri Beth Bowen has settled a securities fraud lawsuit introduced towards her by the SEC.
As alleged by the SEC, Bowen stole “no less than” $303,000 by way of the Forsage Ponzi scheme.
On September 1st the SEC filed a movement requesting judgment by consent towards Bowen (proper).
The requested judgment
obviates the necessity to litigate substantive legal responsibility on the a part of Bowen, and it completely enjoins her from violating the federal securities legal guidelines at challenge within the grievance in addition to from participating in sure different exercise.
Bowen’s judgment additionally consists of disgorgement, prejudgment curiosity and a civil penalty – to be decided by the court docket at a later date.
The SEC
anticipate(s) shifting for such financial aid after the claims towards the remaining Defendants are resolved.
Bowen is the fourth Forsage defendant to settle. She follows Samuel Ellis, Sarah Theissen and Mark Hamlin – all US based mostly promoters of the Ponzi scheme.
The court docket authorised Bowen’s proposed Forsage settlement on September 2nd.
The SEC’s case towards the remaining seven Forsage defendants continues.