SEC v. ROBERT DEL PRETE, No. 3:23-cv-20452, District of New Jersey (Sept. 27, 2023) — Judgment

UNITED STATES DISTRICT COURT
DISTRICT OF NEW JERSEY
SECURITIES AND EXCHANGE COMMISSION,
Plaintiff,
23-CV-20452 (MAS) (DEA)
v.
ROBERT DEL PRETE,
Defendant.
J
UDGMENT AS TO DEFENDANT ROBERT DEL PRETE
The Securities and Exchange Commission having filed a Complaint and Defendant
Robert Del Prete (“Del Prete”) having entered a general appearance; consented to the Court’s
jurisdiction over Defendant and the subject matter of this action; consented to entry of this
Judgment; waived findings of fact and conclusions of law; and waived any right to appeal from
this Judgment.
I.
IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant is
permanently restrained and enjoined from violating, directly or indirectly, Section 10(b) of the
Securities Exchange Act of 1934 (the “Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5
promulgated thereunder [17 C.F.R. § 240.10b-5], by using any means or instrumentality of
interstate commerce, or of the mails, or of any facility of any national securities exchange, in
connection with the purchase or sale of any security:
(a)   to employ any device, scheme, or artifice to defraud;

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(b)to make any untrue statement of a material fact or to omit to state a material fact
necessary in order to make the statements made, in the light of the circumstances
under which they were made, not misleading; or
(c)   to engage in any act, practice, or course of business which operates or would
operate as a fraud or deceit upon any person.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in
Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who
receive actual notice of this Judgment by personal service or otherwise: (a) Defendant’s officers,
agents, servants, employees, and attorneys; and (b) other persons in active concert or
participation with Defendant or with anyone described in (a).
II.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, pursuant to Section
21(d)(2) of the Exchange Act [15 U.S.C. § 78u(d)(2)], Defendant is prohibited from acting as an
officer or director of any issuer that has a class of securities registered pursuant to Section 12 of
the Exchange Act [15 U.S.C. § 78l] or that is required to file reports pursuant to Section 15(d) of
the Exchange Act [15 U.S.C. § 78o(d)].
III.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that upon motion of the
Commission, the Court shall determine whether it is appropriate to order disgorgement of ill-
gotten gains and/or a civil penalty pursuant to Section 21A of the Exchange Act [15 U.S.C.
§78u-1] and, if so, the amount(s) of the disgorgement and/or civil penalty.  If disgorgement is
ordered, Defendant shall pay prejudgment interest thereon, calculated from February 17, 2021,
based on the rate of interest used by the Internal Revenue Service for the underpayment of

3
federal income tax as set forth in 26 U.S.C. § 6621(a)(2).  In connection with the Commission’s
motion for disgorgement and/or civil penalties, and at any hearing held on such a motion: (a)
Defendant will be precluded from arguing that he did not violate the federal securities laws as
alleged in the Complaint; (b) Defendant may not challenge the validity of the Consent or this
Judgment; (c) solely for the purposes of such motion, the allegations of the Complaint shall be
accepted as and deemed true by the Court; and (d) the Court may determine the issues raised in
the motion on the basis of affidavits, declarations, excerpts of sworn deposition or investigative
testimony, and documentary evidence, without regard to the standards for summary judgment
contained in Rule 56(c) of the Federal Rules of Civil Procedure.  In connection with the
Commission’s motion for disgorgement and/or civil penalties, the parties may take discovery,
including discovery from appropriate non-parties.
IV.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the Consent is
incorporated herein with the same force and effect as if fully set forth herein, and that Defendant
shall comply with all of the undertakings and agreements set forth therein.
V.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, for purposes of
exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 11 U.S.C. § 523, the
allegations in the Complaint are true and admitted by Defendant, and further, any debt for
disgorgement, prejudgment interest, civil penalty or other amounts due by Defendant under this
Judgment or any other judgment, order, consent order, decree or settlement agreement entered in
connection with this proceeding, is a debt for the violation by Defendant of the federal securities

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laws or any regulation or order issued under such laws, as set forth in Section 523(a)(19) of the
Bankruptcy Code, 11 U.S.C. § 523(a)(19).
VI.
IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court shall retain
jurisdiction of this matter for the purposes of enforcing the terms of this Judgment.
VII.
There being no just reason for delay, pursuant to Rule 54(b) of the Federal Rules of Civil
Procedure, the Clerk is ordered to enter this Final Judgment forthwith and without further notice.
Dated:  September 25, 2023
____________________________________
UNITED STATES DISTRICT JUDGE

UNITED STATES DISTRICT COURT 
DISTRICT OF NEW JERSEY 

SECURITIES AND EXCHANGE COMMISSION, 

Plaintiff,
23-CV-20452 (MAS) (DEA)

v.

ROBERT DEL PRETE, 

Defendant.

JUDGMENT AS TO DEFENDANT ROBERT DEL PRETE 

The Securities and Exchange Commission having filed a Complaint and Defendant 

Robert Del Prete (“Del Prete”) having entered a general appearance; consented to the Court’s 

jurisdiction over Defendant and the subject matter of this action; consented to entry of this 

Judgment; waived findings of fact and conclusions of law; and waived any right to appeal from 

this Judgment. 

I. 

IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Defendant is 

permanently restrained and enjoined from violating, directly or indirectly, Section 10(b) of the 

Securities Exchange Act of 1934 (the “Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5 

promulgated thereunder [17 C.F.R. § 240.10b-5], by using any means or instrumentality of 

interstate commerce, or of the mails, or of any facility of any national securities exchange, in 

connection with the purchase or sale of any security: 

(a) to employ any device, scheme, or artifice to defraud;

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(b) to make any untrue statement of a material fact or to omit to state a material fact

necessary in order to make the statements made, in the light of the circumstances

under which they were made, not misleading; or

(c) to engage in any act, practice, or course of business which operates or would

operate as a fraud or deceit upon any person.

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in 

Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who 

receive actual notice of this Judgment by personal service or otherwise: (a) Defendant’s officers, 

agents, servants, employees, and attorneys; and (b) other persons in active concert or 

participation with Defendant or with anyone described in (a). 

II. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, pursuant to Section 

21(d)(2) of the Exchange Act [15 U.S.C. § 78u(d)(2)], Defendant is prohibited from acting as an 

officer or director of any issuer that has a class of securities registered pursuant to Section 12 of 

the Exchange Act [15 U.S.C. § 78l] or that is required to file reports pursuant to Section 15(d) of 

the Exchange Act [15 U.S.C. § 78o(d)]. 

III. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that upon motion of the 

Commission, the Court shall determine whether it is appropriate to order disgorgement of ill-

gotten gains and/or a civil penalty pursuant to Section 21A of the Exchange Act [15 U.S.C. 

§ 78u-1] and, if so, the amount(s) of the disgorgement and/or civil penalty.  If disgorgement is

ordered, Defendant shall pay prejudgment interest thereon, calculated from February 17, 2021, 

based on the rate of interest used by the Internal Revenue Service for the underpayment of 

Case 3:23-cv-20452-MAS-DEA   Document 5   Filed 09/25/23   Page 2 of 4 PageID: 35



3 

federal income tax as set forth in 26 U.S.C. § 6621(a)(2).  In connection with the Commission’s 

motion for disgorgement and/or civil penalties, and at any hearing held on such a motion: (a) 

Defendant will be precluded from arguing that he did not violate the federal securities laws as 

alleged in the Complaint; (b) Defendant may not challenge the validity of the Consent or this 

Judgment; (c) solely for the purposes of such motion, the allegations of the Complaint shall be 

accepted as and deemed true by the Court; and (d) the Court may determine the issues raised in 

the motion on the basis of affidavits, declarations, excerpts of sworn deposition or investigative 

testimony, and documentary evidence, without regard to the standards for summary judgment 

contained in Rule 56(c) of the Federal Rules of Civil Procedure.  In connection with the 

Commission’s motion for disgorgement and/or civil penalties, the parties may take discovery, 

including discovery from appropriate non-parties. 

IV. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that the Consent is 

incorporated herein with the same force and effect as if fully set forth herein, and that Defendant 

shall comply with all of the undertakings and agreements set forth therein. 

V.  

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, for purposes of 

exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 11 U.S.C. § 523, the 

allegations in the Complaint are true and admitted by Defendant, and further, any debt for 

disgorgement, prejudgment interest, civil penalty or other amounts due by Defendant under this 

Judgment or any other judgment, order, consent order, decree or settlement agreement entered in 

connection with this proceeding, is a debt for the violation by Defendant of the federal securities 

Case 3:23-cv-20452-MAS-DEA   Document 5   Filed 09/25/23   Page 3 of 4 PageID: 36



4 

laws or any regulation or order issued under such laws, as set forth in Section 523(a)(19) of the 

Bankruptcy Code, 11 U.S.C. § 523(a)(19). 

VI. 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court shall retain 

jurisdiction of this matter for the purposes of enforcing the terms of this Judgment. 

VII. 

There being no just reason for delay, pursuant to Rule 54(b) of the Federal Rules of Civil 

Procedure, the Clerk is ordered to enter this Final Judgment forthwith and without further notice. 

Dated:  September 25, 2023 

____________________________________ 
UNITED STATES DISTRICT JUDGE 

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