Cheri Beth Bowen has settled a securities fraud lawsuit brought against her by the SEC.
As alleged by the SEC
, Bowen stole “at least” $303,000 through the Forsage Ponzi scheme.
On September 1st the SEC filed a motion requesting judgment by consent against Bowen (right).
The requested judgment
obviates the need to litigate substantive liability on the part of Bowen, and it permanently enjoins her from violating the federal securities laws at issue in the complaint as well as from engaging in certain other activity.
Bowen’s judgment also includes disgorgement, prejudgment interest and a civil penalty – to be determined by the court at a later date.
The SEC
anticipate(s) moving for such monetary relief after the claims against 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 promoters of the Ponzi scheme.
The court approved Bowen’s proposed Forsage settlement on September 2nd.
The SEC’s case against the remaining seven Forsage defendants continues.
🤖 Quick Answer
What fraud settlement did Cheri Beth Bowen reach with the SEC?Cheri Beth Bowen settled a securities fraud lawsuit with the SEC regarding her involvement in the Forsage Ponzi scheme. She allegedly stole at least $303,000 through the fraudulent operation. The settlement, filed September 1st, permanently enjoins her from violating federal securities laws and includes disgorgement, prejudgment interest, and civil penalties to be determined by the court.
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