SEC Obtains Judgment Against Giga Entertainment, Inc. CEO Gary Nerlinger
On June 2, 2020, the U.S. District Court for the Eastern District of New York entered a final judgment as to monetary relief against the former de facto CEO of Giga Entertainment Media, Inc., Gary S. Nerlinger, whom the Securities and Exchange Commission (the “SEC”) previously charged in connection with a scheme to mislead investors.
When the SEC filed its complaint, all defendants agreed to full or partial settlements. The settlements with Nerlinger and Giga’s Treasurer, Lawrence Silver, did not specify the amounts of any monetary remedies against them, which were left to be determined by the court. The court entered a final judgment as to monetary relief against Silver on September 17, 2019, ordering him to pay a penalty of $184,767. The court’s final judgment against Nerlinger orders him to pay a penalty of $739,068 and to disgorge $239,807 plus prejudgment interest of $57,710. The final judgment against Nerlinger concludes this litigation.
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