Zhunrize and proprietor Jeff Pan have been hit with $132 million greenback ultimate judgments.
Ultimate judgment in opposition to Zhunrize and Pan was ordered on November 14th and thirteenth respectively.
As per the orders each Zhunrize and Pan are completely prohibited from additional committing securities fraud.
Zhunrize is up for $72,887,552 in disgorgement, plus $23,887,774 in prejudgment curiosity ($96.7 million in whole).
Jeff Pan (proper) is up for $26,304,035 in disgorgement, plus $8,620,743 in prejudgment curiosity and a $640,000 civil penalty ($35.5 million in whole).
Zhunrize’s judgment is deemed happy by property recovered by the Receivership.
Jeff Pan has thirty days from November thirteenth to fulfill his judgment by paying the SEC.
The judgments deliver closure to the SEC’s case in opposition to Zhunrize and Pan, which started again in 2014.
As alleged by the SEC, Zhunrize was a $105 million greenback Ponzi scheme. BehindMLM reviewed Zhunrize previous to the SEC shutdown.
Though we couldn’t put a greenback quantity on the fraud, we recognized Zhunrize as a possible Ponzi scheme in late 2013.