UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF FLORIDA

CASE NO. 20-CV-81205-RAR

SECURITIES AND EXCHANGE 

COMMISSION,

Plaintiff,

v. 

COMPLETE BUSINESS SOLUTIONS 

GROUP, INC. d/b/a PAR FUNDING, et al., 

Defendants.

______________________________________/ 

AMENDED FINAL JUDGMENT AS TO DEFENDANTS 

LISA MCELHONE AND JOSEPH LAFORTE

THIS CAUSE comes before the Court upon the Amended Order Granting in Part 

Plaintiff’s Amended Omnibus Motion for Final Judgment [ECF No. 1449] (“Amended Order”).1

 

For the reasons set forth in the Order, it is hereby ORDERED AND ADJUDGED as follows:

INCORPORATION OF JUDGMENT

IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that the Court’s 

Judgments of Permanent Injunction as to Defendants entered on November 24, 2021 [ECF Nos.

1008 and 1010] are hereby adopted and incorporated by reference with the same force and effect 

as if fully set forth herein, and that Defendants shall comply with all the undertakings and 

agreements set forth therein. 

1

 Pursuant to Federal Rules of Civil Procedure 59(e) and 60(a), the Amended Order solely corrected a 

clerical mistake in the disgorgement calculations for Lisa McElhone and Joseph W. LaForte and provided 

updated prejudgment interest amounts based on those corrected calculations. Defendants moved the Court 

to make these corrections, [ECF No. 1444], the SEC stated ore tenus it did not oppose Defendants’ motion 

related to the clerical mistakes, [ECF No. 1446], and the Court granted in part Defendants’ motion, [ECF 

No. 1449]. 

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DISGORGEMENT, PREJUDGMENT INTEREST, AND CIVILPENALTY

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that 

Defendants are jointly and severally liable for disgorgement of $142,529,980, representing the 

amount of their ill-gotten gains as a result of the conduct alleged in the Amended Complaint [ECF 

No. 119], together with prejudgment interest thereon in the amount of $10,694,758.24. Defendants 

are also liable for civil penalties in the amount of $21,850,000 each for a total of $43,700,000, 

pursuant to Section 20(d) of the Securities Act [15 U.S.C. § 77t(d)] and Section 21(d)(3) of the 

Exchange Act [15 U.S.C. § 78u(d)(3)]. 

Defendants shall pay the total of $196,924,738.24 to the Court-appointed Receiver within 

thirty (30) days of entry of this Final Judgment. 

Defendants shall simultaneously transmit photocopies of evidence of payment and case 

identifying information to the Commission’s counsel in this action. By making this payment, 

Defendants relinquish all legal and equitable right, title, and interest in such funds and no part of 

the funds shall be returned to Defendants. 

The Commission may enforce the Court’s judgment for disgorgement and prejudgment 

interest by using all collection procedures authorized by law, including, but not limited to, moving 

for civil contempt at any time after thirty (30) days following entry of this Final Judgment. The 

Commission may enforce the Court’s judgment for penalties by the use of all collection procedures 

authorized by law, including the Federal Debt Collection Procedures Act, 28 U.S.C. § 3001 et seq.,

and moving for civil contempt for the violation of any Court orders issued in this action. 

Defendants shall pay post-judgment interest on any amounts due after thirty (30) days of the entry 

of this Final Judgment pursuant to 28 U.S.C. § 1961. 

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The Commission or the Receiver may propose a plan to distribute the funds subject to the 

Court’s approval. Such a plan may provide that the Fund shall be distributed pursuant to the Fair 

Fund provisions of Section 308(a) of the Sarbanes-Oxley Act of 2002. The Court shall retain 

jurisdiction over the administration of any distribution of the Fair Fund and the Fund may only be 

disbursed pursuant to an order of the Court. 

Regardless of whether any such Fair Fund distribution is made, amounts ordered to be paid 

as civil penalties pursuant to this Final Judgment shall be treated as penalties paid to the 

government for all purposes, including all tax purposes. To preserve the deterrent effect of the 

civil penalty, Defendants shall not, after offset or reduction of any award of compensatory damages 

in any Related Investor Action based on Defendants’ payment of disgorgement in this action, argue 

that they are entitled to, nor shall they further benefit by, offset or reduction of such compensatory 

damages award by the amount of any part of Defendants’ payment of a civil penalty in this action 

(“Penalty Offset”). If the court in any Related Investor Action grants such a Penalty Offset, 

Defendants shall, within thirty (30) days after entry of a final order granting the Penalty Offset, 

notify the Commission’s counsel in this action and pay the amount of the Penalty Offset to the 

United States Treasury or to a Fair Fund, as the Commission directs. Such a payment shall not be 

deemed an additional civil penalty and shall not be deemed to change the amount of the civil 

penalty imposed in this Final Judgment. For purposes of this paragraph, a “Related Investor 

Action” means a private damages action brought against Defendants by or on behalf of one or 

more investors based on substantially the same facts as alleged in the Complaint in this action.

RETENTION OF JURISDICTION

This Court shall retain jurisdiction over this matter and Defendants in order to implement 

and carry out the terms of all Orders and Decrees that may be entered and/or to entertain any 

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suitable application or motion for additional relief within the jurisdiction of this Court, and will 

order other relief that this Court deems appropriate under the circumstances. 

RULE 54(b) CERTIFICATION

 There being no just reason for delay, pursuant to Rule 54(b) of the Federal Rules of Civil 

Procedure, the Clerk is ordered to enter this Final Judgment forthwith and without further notice.

DONE AND ORDERED in Fort Lauderdale, Florida, this 22nd day of November, 2022.

 ________________________________ 

RODOLFO A. RUIZ II

UNITED STATES DISTRICT JUDGE

cc: Counsel of Record

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