Today the SEC announced that it had submitted a partial judgment to the Honorable Judge Louis L. Stanton, a federal judge in the Southern District of New York. This partial judgment, filed with the consent of Madoff, would make permanent the injunction and partial relief that were previously imposed by a temporary restraining order issued on December 18, 2008. That order restrained Madoff from violating certain antifraud provisions of the federal securities laws, and the relief imposed in the order included the freezing Madoff’s assets. The proposed partial judgment leaves for a later date the issues of the amount of disgorgement, prejudgment interest and civil penalty to be imposed. However, for purposes of determining Madoff’s obligation to pay these penalties, the proposed partial judgment deems the facts of the complaint are established and cannot be contested by Madoff. Madoff consented to the partial judgment without admitting or denying the allegations of the SEC's complaint, filed on December 11, 2008. In order to take effect, the proposed partial judgment must be approved and entered by Judge Stanton.
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