Final Judgement Obtained Against Louis Martin Blazer III
On August 10, 2017, the Securities and Exchange Commission (“SEC”) announced that it has obtained a final judgment against Louis Martin Blazer III, a Pittsburgh, Pa.-based financial adviser, accused of taking money without permission from the accounts of several professional athletes in order to invest in movie projects and make Ponzi-like payments and then lying to SEC examiners who uncovered the unauthorized withdrawals.
The final judgment, entered by consent on August 4, 2017, by the Honorable J. Paul Oetken of the U.S. District Court for the Southern District of New York, permanently enjoins Louis Martin Blazer III from violating Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Section 206(1) and 206(2) of the Investment Advisers Act of 1940 and orders him to pay approximately $1.8 million in disgorgement and prejudgment interest and a civil money penalty of $150,000. On May 18, 2016, the court entered a partial judgment by consent and Louis Martin Blazer III agreed to the entry of an SEC order, based on the partial judgment, imposing a permanent industry bar.The court’s entry of the final judgment resolves this litigation in its entirety.
For further information about this securities law blog post, please contact Brenda Hamilton, Securities Attorney at 101 Plaza Real S, Suite 202 N, Boca Raton, Florida, (561) 416-8956, by email at [email protected] or visit www.securitieslawyer101.com. This securities law blog post is provided as a general informational service to clients and friends of Hamilton & Associates Law Group and should not be construed as, and does not constitute, legal and compliance advice on any specific matter, nor does this message create an attorney-client relationship. Please note that the prior results discussed herein do not guarantee similar outcomes.
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Brenda Hamilton, Securities Attorney
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