Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-casd-3_15-cv-01842/USCOURTS-casd-3_15-cv-01842-0/pdf.json

Nature of Suit Code: 850
Nature of Suit: Securities, Commodities, Exchange
Cause of Action: 

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1 UNITED STATES DISTRICT COURT

2 SOUTHERN DISTRICT OF CALIFORNIA

3 _________________________________________

4 : 15-CV-1842-WQH-WVG

5 SECURITIES AND EXCHANGE :

6 COMMISSION, : ORDER ENFORCING

7 : RESPONDENT’S

8 Petitioner, : COMPLIANCE WITH

9 : THE SEC’S APRIL 14,

10 v. : 2009 ORDER BARRING

11 : RESPONDENT FROM

12 STEPHEN P. CORSO, JR. : PRACTICING BEFORE

13 aka “STEVEN JOHN CORSO” : THE SEC

14 :

15 Respondent. :

16 _________________________________________:

17

18

19 THIS CAUSE comes before the Court upon the Application of the Securities 

20 and Exchange Commission (the “Commission”) for an order: (1) compelling 

21 Respondent Stephen P. Corso (“Corso”) to comply with an April 14, 2009

22 Commission Order of Forthwith Suspension Pursuant to Rule 102(e)(2) of the 

23 Commission’s Rules of Practice, which permanently barred Corso from appearing 

24 or practicing before the Commission (the “April 14 Order”); (2) directing Corso to 

25 cease and desist from appearing or practicing before the Commission in violation 

26 of the April 14 Order; and (3) requiring Corso to disgorge, with prejudgment 

27 interest, all compensation, fees and remuneration — whether in the form of funds, 

28 securities or otherwise — that he received for appearing or practicing before the 

29 Commission in violation of the April 14 Order. The parties have informed the 

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1 Court that, without admitting or denying the allegations contained in the 

2 Commission’s Application and supporting documents, Corso does not oppose the 

3 entry of this Order. In particular, on September 17, 2015 the Commission filed 

4 with the Court and served on counsel for Corso a “Notice Of Non-Opposition To 

5 An Order Granting The SEC’s Application Pursuant To Section 21(e) Of The 

6 Securities Exchange Act Of 1934,” in which the Commission informed the Court 

7 that, “without admitting or denying the allegations in the Application and 

8 supporting documents, Mr. Corso does not oppose the entry of a Court order 

9 compelling him to comply with [the] April 14, 2009 Securities and Exchange 

10 Commission Order, which permanently barred him from appearing or practicing 

11 before the Commission.” (ECF No. 5 at 1-2) The Commission’s Notice attached a 

12 letter from counsel for Corso, which said the same thing. As directed by the 

13 Court’s Minute Order entered on September 24, 2015 (ECF No. 6), the 

14 Commission submitted a proposed order with the provisions below to the Court’s 

15 efile box and served a copy of the proposed order on counsel for Corso and Corso 

16 directly. Therefore, and the Court being fully advised in the premises, it is 

17 HEREBY ORDERED, ADJUDGED AND DECREED that:

18 1. Corso shall comply with the Commission’s April 14, 2009 Order by 

19 immediately ceasing to appear or practice before the Commission.

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1 2. Corso shall remove from the Internet all references to himself as an “SEC 

2 consultant and attorney” as well as any statements that imply or suggest, either

3 directly or indirectly, that Corso is permitted to appear or practice before the 

4 Commission.

5 3. Corso shall disgorge $465,525, plus $29,938 in prejudgment interest.

6 4. Corso shall satisfy his disgorgement obligation within fourteen days of 

7 the entry of this order by paying the Commission $495,463 in disgorgement and 

8 prejudgment interest. 

9 5. Corso may transmit payment of the disgorgement and prejudgment 

10 interest electronically to the Commission, which will provide detailed 

11 ACH/Fedwire instructions upon request. Payment may also be made directly from 

12 a bank account via pay.gov through the Commission’s website at 

13 http://www.sec.gov/about/offices/ofm.htm. Corso may also pay by certified check, 

14 bank check or United States postal money order payable to the Securities and 

15 Exchange Commission, which shall be delivered or mailed to:

16 Enterprise Services Center

17 Accounts Receivable Branch

18 6500 South MacArthur Boulevard

19 Oklahoma City, Oklahoma 73169

20

21 and shall be accompanied by a letter identifying the case title, civil action number, 

22 and name of this Court, setting forth Corso’s name as a Respondent in this 

23 proceeding, and specifying that payment is made pursuant to this Order. Corso 

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1 shall simultaneously transmit photocopies of evidence of payment and case2 identifying information to the Commission’s counsel in this action.

3 6. By making this payment, Corso relinquishes all legal and equitable right, 

4 title and interest in such funds and securities, and no part of such funds or 

5 securities shall be returned to Corso. The Commission shall send the funds paid 

6 pursuant to this Order to the United States District Court for the District of 

7 Connecticut, to be applied against Corso’s outstanding criminal restitution 

8 obligation in United States v. Stephen P. Corso, Case No. 3:05-cr-105-JCH.

9 7. The Commission may enforce this Order for disgorgement and 

10 prejudgment interest as though it were a final judgment, and may use all collection 

11 procedures authorized by law at any time after fourteen days following entry of 

12 this Order.

13 8. Corso shall pay post-judgment interest on any delinquent amount 

14 pursuant to 28 U.S.C. § 1961.

15 9. This Court shall retain jurisdiction of this proceeding to enforce 

16 compliance with this Order.

Dated: November 17, 2015

17

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