2025-02-06 sec-litreleases judgment 70 KB 2,694 chars

SEC v. Frank T. Poerio, Jr., No. 2:24-cv-00700, Western District of Pennsylvania (Feb. 6, 2025) — Judgment

raw: SEC v. FRANK T POERIO

SEC v. FRANK T POERIO, No. 2:24-cv-00700 (Feb. 6, 2025)

Caption: Mark L McCrary v. 3M Company, The

summary

Frank T. Poerio, Jr. entered a final consent judgment with the SEC, being held liable for $823,367 in disgorgement and $32,967.50 in prejudgment interest.

paragraph

The court held Frank T. Poerio, Jr. liable for the disgorgement of $823,367 in profits gained from alleged fraudulent conduct. This disgorgement amount was deemed satisfied by criminal restitution ordered in a separate criminal case, United States v. Poerio. Additionally, the defendant was ordered to pay $32,967.50 in prejudgment interest to the SEC.

narrative

The U.S. Securities and Exchange Commission obtained a final judgment by consent against Frank T. Poerio, Jr. in the Western District of Pennsylvania. The court found Poerio liable for the disgorgement of $823,367 in profits resulting from his alleged misconduct. This disgorgement obligation was satisfied through criminal restitution ordered in the related criminal case, United States v. Poerio. However, the defendant was specifically ordered to pay $32,967.50 in prejudgment interest to the SEC within 14 days of the judgment. The judgment also outlines that the SEC may enforce the interest payment through civil contempt or other legal collection procedures. Failure to comply may result in the accrual of post-judgment interest under federal law.

Enriched metadata

Scheme: accounting-fraud (70%)
Court: Western District of Pennsylvania
Case No.: 2:24-cv-00700
Disgorgement: $823,367

Classified accounting-fraud(confidence 70%). EDGAR detection: forms 10-K/10-Q/8-K/NT 10-K· recall 80% / precision 48%. detection rule →

Extracted insights

Dollar amounts 2

$823K $823,367 $100K–$1M
$33K $32,967 $10K–$100K

Entities 4

agency $32,967.50 to securities and exchange commission within 14 days
person civil contempt
agency Securities and Exchange Commission
court united states district court for the western district of pennsylvania

Triples 9

United States District Court For The Western District Of Pennsylvania entered judgment against Defendant Frank T. Poerio Jr. on May 15, 2024
Defendant Frank T. Poerio Jr. is liable for disgorgement of $823,367
Defendant Frank T. Poerio Jr. shall pay $32,967.50 to Securities and Exchange Commission within 14 days
Defendant Frank T. Poerio Jr. may transmit payment electronically to Securities and Exchange Commission
Defendant Frank T. Poerio Jr. shall transmit photocopies of evidence of payment to Commission’s counsel
Defendant Frank T. Poerio Jr. relinquishes all legal and equitable rights in the funds paid under the Final Judgment
Securities and Exchange Commission shall send funds to United States Treasury
Securities and Exchange Commission may enforce judgment by moving for civil contempt
Defendant Frank T. Poerio Jr. shall pay post‑judgment interest on any delinquent amounts pursuant to 28 U.S.C. § 1961

PDF

SEC v. FRANK T POERIO · Source

Text layers

Extracted body text (2,694c)

UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF PENNSYLVANIA

UNITED STATES SECURITIES AND
EXCHANGE COMMISSION,
Plaintiff,
v.
FRANK T POERIO, JR.,
Defendant.

Case 2:24-cv-00700-CCW

FINAL JUDGMENT AS TO DEFENDANT FRANK T. POERIO, JR.

On May 15, 2024, this Court entered Judgment, by consent, against Defendant Frank T. Poerio (“Defendant”). Dkt. No. 11. That Judgment is incorporated herein with the same force and effect as if fully set forth herein.

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant is liable for disgorgement of $823,367, representing profits gained as a result of the conduct alleged in the Complaint, which is deemed satisfied by the criminal restitution ordered against Defendant in United States v. Poerio, 2:24-cr-00104-MJH (W.D. Pa.), together with prejudgment interest thereon in the amount of $32,967.50. Defendant shall satisfy this obligation by paying the specified amount of $32,967.50 to the Securities and Exchange Commission within 14 days after entry of this Final Judgment.

Defendant may transmit payment electronically to the Commission, which will provide detailed ACH transfer/Fedwire instructions upon request. Payment may also be made directly from a bank account via Pay.gov through the SEC website at
http://www.sec.gov/about/offices/ofim.htm. Defendant may also pay by certified check, bank cashier’s check, or United States postal money order payable to the Securities and Exchange Commission, which shall be delivered or mailed to

Enterprise Services Center
Accounts Receivable Branch
6500 South MacArthur Boulevard
Oklahoma City, OK 73169

and shall be accompanied by a letter identifying the case title, civil action number, and name of this Court; the name of the Defendant in this action; and specifying that payment is made pursuant to this Final Judgment.

Defendant shall simultaneously transmit photocopies of evidence of payment and case identifying information to the Commission’s counsel in this action. By making this payment, Defendant relinquishes all legal and equitable right, title, and interest in such funds and no part of the funds shall be returned to Defendant. The Commission shall send the funds paid pursuant to this Final Judgment to the United States Treasury.

The Commission may enforce the Court’s judgment for disgorgement and prejudgment interest by moving for civil contempt (and/or through other collection procedures authorized by law) at any time after 14 days following entry of this Final Judgment. Defendant shall pay post judgment interest on any delinquent amounts pursuant to 28 U.S.C. § 1961.

Dated: January 27, 2025

/s/ Christy Criswell Wiegand
UNITED STATES DISTRICT JUDGE

OCR text (2,694c · tika+glm · 85% conf)