SEC v. Michael Lauer, No. LR-18991, Southern District of Florida (Dec. 2, 2004) — Press Release
raw: Michael Lauer, et al.
Michael Lauer, et al., No. LR-18991 (Dec. 2, 2004)
Michael Lauer violated a court-ordered asset freeze by transferring $19,812 from the Millennium 3 Opportunity Fund, LLC, and making multiple unauthorized payments to a bank account linked to his home address, prompting the SEC to file a contempt motion in October 2004.
The SEC filed a contempt motion against Michael Lauer on October 22, 2004, for violating a July 17, 2003 preliminary injunction that froze his assets in connection with an underlying securities fraud case. Lauer allegedly transferred $11,011 on December 12, 2003, and $8,801 on April 7, 2004, from his interest in the Millennium 3 Opportunity Fund, LLC, and made additional transfers between November and December 2003 to a bank account under Heidi Carens d/b/a The Lava Group, which shared his home address. These actions constituted willful disregard of the asset freeze, and the SEC sought sanctions, though no final penalty or resolution was detailed in the filing.
The U.S. Securities and Exchange Commission filed a contempt motion against Michael Lauer on October 22, 2004, for violating a preliminary injunction issued on July 17, 2003, which froze his assets in connection with prior securities fraud allegations. Lauer allegedly transferred $11,011 from his interest in the Millennium 3 Opportunity Fund, LLC, on December 12, 2003, and another $8,801 on April 7, 2004, directly contravening the court’s order. In addition, between November and December 2003, he made multiple unauthorized transfers to a bank account held in the name of Heidi Carens d/b/a The Lava Group, which was registered at his home address, further obscuring his assets. The SEC characterized these actions as a willful and deliberate attempt to evade the asset freeze meant to preserve funds related to the underlying fraud case. The contempt motion sought civil sanctions for these violations, but the document does not specify any final judgment or penalty imposed. Prior litigation releases from July 2003 reference the original fraud allegations involving the Fund, suggesting a pattern of deceptive conduct. The case underscores the SEC’s enforcement efforts to hold individuals accountable for disobeying court-ordered financial restrictions.
Extracted insights
- $11K $11,011 $10K–$100K
- $9K $8,801 <$10K
- person michael lauer
- agency Securities and Exchange Commission
- organization Securities and Exchange Commission
- Securities and Exchange Commission announced it filed an Application for an Order to Show Cause on October 22, 2004
- Securities and Exchange Commission filed an Application for an Order to Show Cause with the United States District Court for the Southern District of Florida
- Michael Lauer violated the Court's July 17, 2003 Preliminary Injunction Order
- SEC filed Contempt Motion against Michael Lauer
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 18991 / December 2, 2004 SECURITIES AND EXCHANGE COMMISSION V. MICHAEL LAUER, ET AL., Case No. 03-80612-CIV-MARRA/VITUNAC (S.D. Fla). SEC FILES CONTEMPT MOTION AGAINST MICHAEL LAUER The Securities and Exchange Commission announced that on October 22, 2004, it filed with the United States District Court for the Southern District of Florida, an Application for an Order to Show Cause why Michael Lauer should not be held in civil contempt for violating the Court's July 17, 2003 Preliminary Injunction Order. That order, among other things, froze Lauer's assets. The Application alleged that Lauer transferred and/or withdrew assets, in direct contravention of the July 17, 2003 Order. The Commission's contempt application asserts, among other things, that Lauer violated the asset freeze order on December 12, 2003 by transferring or assigning his interest in the Millennium 3 Opportunity Fund, LLC (Fund) in the amount of $11,011 and also on April 7, 2004, by transferring or assigning his interest in the Fund in the amount of $8,801. The contempt application also asserts that in addition to the Fund distribution checks, between November 2003 and December 2003, Lauer made numerous other transfers to a bank account in the name of Heidi Carens d/b/a The Lava Group, whose address is Lauer's home address. For further information, see Litigation Release No. 18226 (July 10, 2003) and Litigation Release No. 18247 (July 23, 2003).
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 18991 / December 2, 2004 SECURITIES AND EXCHANGE COMMISSION V. MICHAEL LAUER, ET AL., Case No. 03-80612-CIV-MARRA/VITUNAC (S.D. Fla). SEC FILES CONTEMPT MOTION AGAINST MICHAEL LAUER The Securities and Exchange Commission announced that on October 22, 2004, it filed with the United States District Court for the Southern District of Florida, an Application for an Order to Show Cause why Michael Lauer should not be held in civil contempt for violating the Court's July 17, 2003 Preliminary Injunction Order. That order, among other things, froze Lauer's assets. The Application alleged that Lauer transferred and/or withdrew assets, in direct contravention of the July 17, 2003 Order. The Commission's contempt application asserts, among other things, that Lauer violated the asset freeze order on December 12, 2003 by transferring or assigning his interest in the Millennium 3 Opportunity Fund, LLC (Fund) in the amount of $11,011 and also on April 7, 2004, by transferring or assigning his interest in the Fund in the amount of $8,801. The contempt application also asserts that in addition to the Fund distribution checks, between November 2003 and December 2003, Lauer made numerous other transfers to a bank account in the name of Heidi Carens d/b/a The Lava Group, whose address is Lauer's home address. For further information, see Litigation Release No. 18226 (July 10, 2003) and Litigation Release No. 18247 (July 23, 2003).