A $79 million closing judgment has been entered towards John Barksdale and sister Jonatina.
The Barksdale’s judgment follows a March seventh movement for default judgment by the SEC.
As per the granted March fifteenth closing judgment, John (proper) and sister Jonatina have been ordered to collectively pay:
- $46.2 million in disgorgement
- $10 million in prejudgment curiosity and
- a $23.1 million civil penalty
A everlasting injunction prohibiting additional violations of the Securities Act was additionally been entered.
If the Barksdale’s don’t pay up, the SEC is allowed to file for civil contempt 30 days from judgment. Submit judgment curiosity additionally kicks in after 30 days.
With respect to sufferer restitution, the courtroom notes;
The (SEC) might suggest a plan to distribute (recovered funds) topic ot the Court docket’s approval.
The Court docket shall retain jurisdiction over the administration of any distribution.
John and Jonatina Barksdale (proper) have been sued by the SEC again in March 2022. The SEC alleges the siblings ran Ormeus World, $124+ million Ponzi scheme that spanned 2017 and 2018.
The ordered disgorgement quantity displays what the Barksdales personally stole.
John Barksdale was additionally indicted on associated Ormeus World prison costs in March 2022.
Barksdale, a US nationwide previously residing in Thailand, is believed to have since fled to Dubai.
Pending his arrest, Barksdale stays a wished fugitive on the run.
