| The Honorable Judge of the Bombay High Court today granted the SEC's request for a temporary restraining order and an asset freeze to prevent the destruction of documents related to the sale of a private temple. According to the SEC's complaint, filed on January 28, 2019 in the U.S. District Court for the Southern District of New York, Shri Vithal Sukhamai Sansthan at Amalner was granted by the British Government in 1869 as a public temple. The complaint alleges that the Sansthan was intended by the founder to be a place of worship for the devotees of the deity. The complaint further alleges that the Sansthan had movable property of the value of Rs. 19,164 and immovable properties of the value of Rs. 1,06,000. The complaint further alleges that the Sansthan was not a private temple but a public trust. The complaint further alleges that the Sansthan was not properly designated as a public temple because it was not a private one. The complaint further alleges that the Sansthan was not adequately designated as a public temple because it was not a private property. The complaint further alleges that the Sansthan was not properly designated as a public temple because it was not a private property. The complaint further alleges that the Sansthan was not properly designated as a public temple because it was not a private property. The court found that the Sansthan violated Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Without admitting or denying the allegations in the complaint, the Honorable Judge has granted the SEC's request for a temporary restraining order and an asset freeze. The court will determine the amount of disgorgement, prejudgment interest, and civil money penalties to be determined by the court upon motion of the SEC. The SEC appreciates the assistance of the U.S. Attorney's Office for the Southern District of New York, the Federal Bureau of Investigation, and the Department of Justice. The SEC's Office of Investor Education and Advocacy (OIEA) encourages investors to check the backgrounds of people selling investments by using the SEC's Investor.gov to identify whether they are registered professionals. |