SEC v. Jeffrey L. Mowen, et al., Case No. 2:09-cv-00786-DB/PMW (D. Utah). On August 27, the SEC announced it obtained a final judgment against Jeffrey L. Mowen, ordering Mowen to disgorge $8,041,779 and $1,964,203.67 in prejudgment interest. The Court also ordered Mowen to pay a civil monetary penalty of $8,041,779. The Court enjoined Mowen from future violations of Section 10(b) of the Securities Exchange Act and Rule 10b-5 thereunder, and Section 17(a) of the Securities Act. Mowen operated a Ponzi scheme that was fed through money raised by another defendant, Thomas Fry. Fry raised money through promoters by selling high-yield promissory notes. The scheme raised over $40 million. Mowen never invested the funds, instead taking more than $8 million for himself. Mowen previously pled guilty to related criminal charges and is currently serving a ten-year prison sentence. The SEC obtained a final judgment ordering disgorgement and penalties against Fry and several of his promoters on June 15, 2012.