Garry J. Davidson and Linda C. Knott have copped final default judgments in the SEC’s ongoing “Mike G Deal” fraud case.

Davidson and Knott were co-conspirators of Glaspie’s, assisting him in defrauding consumers out of $45 million.

Following failure to respond to
the SEC’s filed “Mike G Deal” fraud lawsuit
, filed in January 2023, the Eastern District Michigan Court ordered final judgment against Davidson and Knott (right) on June 3rd.

Both default judgments order a permanent injunction, prohibiting Davidson and Knott from committing further violates of the Securities and Exchange Act.

On the money side of things, the court found

Davidson liable for $3.9 million in disgorgement, $915,113 in prejudgment interest plus a $3.9 million civil penalty

Knott liable for $108,171 in disgorgement, $12,714 in prejudgment interest and a $223,229 civil penalty

The SEC’s case against remaining individual defendants Neil Suresh Chandran, Michael Glaspie and Amy Mossel (Glaspie’s wife) continues.

In parallel criminal Mike G proceedings, Glaspie was sentenced to six years in prison last October. The outcome of Chandran’s criminal case remains pending.

Following a Motion to Intervene filed by the DOJ, on June 6th discovery in the SEC’s case was ordered stayed pending the outcome of “Mike G Deal” criminal proceedings.

🤖 Quick Answer

What were the final SEC judgments against Garry Davidson and Linda Knott in the "Mike G Deal" fraud case?
On June 3rd, the Eastern District Michigan Court issued default judgments against Davidson and Knott for their involvement in a $45 million consumer fraud scheme. Both received permanent injunctions prohibiting future Securities and Exchange Act violations. Davidson faced $3.9 million disgorgement, $915,113 prejudgment interest, and $3.9 million civil penalty. Knott was liable for $108,171 in disgorgement.

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