2024-11-20 sec-litreleases judgment 157 KB 4,668 chars

SEC v. TIMOTHY PAGE; TREVOR PAGE; TICINO CAPITAL LIMITED; WELLESLEY HOLDINGS LIMITED; PORRIMA LIMITED; EMERGENT INVESTMENTS COMPANY, et al., No. 1:21-cv-05292, Eastern District of New York (Nov. 20, 2024) — Judgment

raw: SEC v. TIMOTHY PAGE

SEC v. TIMOTHY PAGE, No. 1:21-cv-05292 (Nov. 20, 2024)

Caption
Securities & Exchange Commission v. Page
Exhibit of Timothy Page, Trevor Page, Ticino Capital Limited, Wellesley Holdings Limited, Porrima Limited, Emergent Investments Company, And FJ Investments International Inc.,
Source PDF JSON
summary

Timothy Page and several corporate defendants were found liable for securities fraud and market manipulation, resulting in massive disgorgement, penalties, and permanent injunctions.

paragraph

The court found Timothy Page and corporate entities including Wellesley Holdings Limited liable for violations of the Exchange Act and Securities Act. Financial sanctions include $7,652,228 in disgorgement and civil penalties for Timothy Page, plus significant interest and penalties for the corporate defendants. The judgment also imposes permanent injunctions against future violations and restricts Timothy Page from participating in the issuance or sale of securities.

narrative

The U.S. District Court for the Eastern District of New York has entered judgment against Timothy Page, Trevor Page, and several corporate entities, including Wellesley Holdings Limited, Porrima Limited, and Emergent Investments Company, for securities fraud and manipulation. The defendants were found liable for violations of Sections 10(b) and 9(a) of the Exchange Act, as well as Sections 5 and 17(a) of the Securities Act. Timothy Page was ordered to pay $7,652,228 in disgorgement and $983,819 in prejudgment interest, along with a $7,652,228 civil penalty. The corporate defendants face significant disgorgement, interest, and civil penalties, with Wellesley, Porrima, and Emergent held jointly and severally liable for portions of Page's obligations. Relief defendant Janan Page was also ordered to disgorge $1,085,000 plus interest. The court imposed permanent injunctions against future violations and specifically prohibited Timothy Page from participating in the issuance, purchase, or sale of any security, excluding personal trades on national exchanges.

Enriched metadata

Scheme
market-manipulation (95%)
Court
Eastern District of New York
Case No.
1:21-cv-05292
Disgorgement
$2,062,760
Classified market-manipulation(confidence 95%). EDGAR detection: forms SC 13D/G/13F· recall 53% / precision 9%. detection rule →
Statutes
Sections 5(a) and (c) and 17(a)(1) and (3) of the Securities ActSections 5(a) and (c) and 17(a)(1) and (3) of the Securities ActSections 5(a) and (c) and 17(a)(1) and (3) of the Securities ActSections 5(a) and (c) and 17(a)(1) and (3) of the Securities ActSections 5 and 17(a) of the Securities ActRule 10b-5(a)Rule 10b-5
Parties
Securities & Exchange CommissionTimothy PagePorrima LimitedTrevor PageFJ Investments International Inc.Ticino Capital LimitedWellesley Holdings LimitedEmergent Investment CompanyJanan PageEmergent Investments Company
Keywords
timothy pagepageprejudgment interestdisgorgement prejudgmenttimothydisgorgementinterestprejudgmentexchangesections exchangefollowing amountspage disgorgementsectionssecuritiespage corporate

Extracted insights

Dollar amounts 18
  • $7.65M $7,652,228 $1M–$10M
  • $7.65M $7,652,228 $1M–$10M
  • $7.65M $7,652,228 $1M–$10M
  • $2.06M $2,062,760 $1M–$10M
  • $1.93M $1,928,907 $1M–$10M
  • $1.93M $1,928,907 $1M–$10M
  • $1.08M $1,085,000 $1M–$10M
  • $984K $983,819 $100K–$1M
  • $806K $805,508 $100K–$1M
  • $753K $753,239 $100K–$1M
  • $753K $753,239 $100K–$1M
  • $491K $491,261 $100K–$1M
Entities 5
  • company civil penalties of $1,928,907 against wellesley holdings limited
  • company civil penalties of $456,963 against emergent investments company
  • company civil penalties of $753,239 against porrima limited
  • person magistrate peggy kuo
  • agency Securities and Exchange Commission
Triples 19
  • Securities And Exchange Commission filed Judgment 21-cv-5292 (ARR) (PK)
  • United States District Judge Allyne R. Ross adopted Report and Recommendation of Magistrate Peggy Kuo
  • Magistrate Peggy Kuo recommended that the Court find Timothy Page and the Corporate Defendants liable for violations of Sections 10(b) of the Exchange Act and Rule 10b-5(a) and (c)
  • Court found Timothy Page and the Corporate Defendants liable for violations of Sections 10(b) of the Exchange Act and Rule 10b-5(a) and (c)
  • Court found Timothy Page liable for violations of Sections 9(a)(2) and 13(d) of the Exchange Act
  • Court ordered equitable relief against Relief Defendant Janan Page
  • Court permanently enjoined Timothy Page and the Corporate Defendants from violating Section 10(b) of the Exchange Act and Rule 10b-5
  • Court permanently enjoined Timothy Page from violating Sections 9(a) and 13(d) of the Exchange Act
  • Court permanently enjoined Timothy Page from participating in the issuance, purchase offer, or sale of any security
  • Court ordered disgorgement of illegal proceeds and prejudgment interest from Timothy Page in the amount of $7,652,228 and $983,819 respectively
  • Court ordered disgorgement of illegal proceeds and prejudgment interest from Wellesley Holdings Limited in the amount of $1,928,907 and $133,853 respectively
  • Court ordered disgorgement of illegal proceeds and prejudgment interest from Porrima Limited in the amount of $753,239 and $52,270 respectively
  • Court ordered disgorgement of illegal proceeds and prejudgment interest from Emergent Investments Company in the amount of $456,963 and $34,298 respectively
  • Court ordered disgorgement of illegal proceeds and prejudgment interest from Janan Page in the amount of $1,085,000 and $181,296 respectively
  • Court ordered Corporate Defendants to be jointly and severally liable for Timothy Page’s disgorgement and prejudgment interest
  • Court imposed civil penalties of $7,652,228 against Timothy Page
  • Court imposed civil penalties of $1,928,907 against Wellesley Holdings Limited
  • Court imposed civil penalties of $753,239 against Porrima Limited
  • Court imposed civil penalties of $456,963 against Emergent Investments Company
PDF
SEC v. TIMOTHY PAGE · Source
Text layers
Extracted body text (4,668c) 
UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF NEW YORK
----------------------------------------------------------- X
SECURITIES AND EXCHANGE COMMISSION,

   Plaintiff,    JUDGMENT
     21-cv-5292 (ARR) (PK)
-against-

TIMOTHY PAGE, TREVOR PAGE, TICINO CAPITAL
LIMITED, WELLESLEY HOLDINGS LIMITED,
PORRIMA LIMITED, EMERGENT INVESTMENTS
COMPANY, and FJ INVESTMENTS INTERNATIONAL
INC.,

   Defendants.
----------------------------------------------------------- X
An Opinion and Order of the Honorable Allyne R. Ross, United States District Judge
having been filed on October 10, 2024, adopting the Report and Recommendation of Magistrate
Peggy Kuo, dated September 13, 2024, which recommended that the Court find Timothy Page
and the Corporate Defendants liable for violations of Sections 10(b) of the Exchange Act and
Rule 10b-5(a) and (c) promulgated thereunder, Sections 5(a) and (c) and 17(a)(1) and (3) of the
Securities Act; find Timothy Page liable for violations of Sections 9(a)(2) and 13(d) of the
Exchange Act; and order equitable relief against Relief Defendant Janan Page; that the Court:
1. Permanently enjoin Timothy Page and the Corporate Defendants from violating
Section 10(b) of the Exchange Act and Rule 10b-5 promulgated thereunder and Sections 5 and
17(a) of the Securities Act;
2. Permanently enjoin Timothy Page from violating Sections 9(a) and 13(d) of the
Exchange Act;
3. Permanently enjoin Timothy Page from participating in the issuance, purchase offer, or
sale of any security; provided, that such injunction shall not prevent him from purchasing or
selling securities listed on a national securities exchange for his own personal account;

4. Order the disgorgement of the illegal proceeds and prejudgment interest in the
following amounts:
a. Timothy Page: $7,652,228 in disgorgement; $983,819 in prejudgment interest;
b. Wellesley: $1,928,907 in disgorgement; $133,853 in prejudgment interest;
c. Porrima: $753,239 in disgorgement; $52,270 in prejudgment interest;
d. Emergent: $456,963 in disgorgement; $34,298 in prejudgment interest;
e. Janan Page: $1,085,000 in disgorgement; $181,296 in prejudgment interest;
5. Order that the Corporate Defendants be jointly and severally liable for Timothy Page’s
disgorgement and prejudgment interest in the following amounts:
a. Wellesley: $2,062,760;
b. Porrima: $805,508;
c. Emergent: $491,261; and
6. Impose civil penalties in the following amounts:
a. Timothy Page: $7,652,228;
b. Wellesley: $1,928,907;
c. Porrima: $753,239;
d. Emergent: $456,963; it is
 ORDERED AND ADJUDGED that Timothy Page and the Corporate Defendants are
liable for violations of Sections 10(b) of the Exchange Act and Rule 10b-5(a) and (c)
promulgated thereunder, Sections 5(a) and (c) and 17(a)(1) and (3) of the Securities Act; that
Timothy Page is  liable for violations of Sections 9(a)(2) and 13(d) of the Exchange Act; and
equitable relief i s ordered against Relief Defendant Janan Page; it is further

ORDERED and ADJUDGED that Timothy Page and the Corporate Defendants are
permanently enjoined from violating Section 10(b) of the Exchange Act a  nd Rule 10b-5
promulgated thereunder and Sections 5 and 17(a) of the Securities Act  ; that Timothy Page is
permanently enjoined from violating Sections 9(a) and 13(d) of the Exchange Act  ; that Timothy
Page is permanently enjoined from participating in the issuance, purchase offer, or sal  e of any
security; provided, that s  uch injunction shall not prevent him from purchasing or selling
securities l   isted on a national s  ecurities exchange for his own personal a  ccount; it is
further
ORDERED and ADJUDGED that the disgorgement of the illegal proceeds and
prejudgment interest is hereby ordered in the following amounts: a. Timothy Page: $7,652,228
in disgorgement; $983,819 in prejudgment interest; b. Wellesley: $1,928,907 in disgorgement;
$133,853 in pr
ejudgment interest; c. Porrima: $753,239 in disgorgement; $52,270 in
prejudgment interest; d.
Emergent: $456,963 in disgorgement; $34,298 in prejudgment interest;
e. Janan Page:
$1,085,000 in disgorgement; $181,296 in prejudgment interest; it is further
ORDERED and ADJUDGED that the Corporate Defen
dants are jointly and severally
liable for Timothy Page’s disgorgement and prejudgment interest in the following amounts: a.
Wellesley: $2,062,760; b. Porrima: $805,508; c. Emergent: $491,261; and that civil penalties
p
enalties are imposed in the following amounts: a. Timothy Page: $7,652,228; b. Wellesley:
$1,928,907; c. Porrima: $753,239;  and d. Emergent: $456,963.
Da
ted: Brooklyn, NY Brenna B. Mahoney
           November 14, 2024 Clerk of Court
By: /s /Jalitza Poveda
Deputy Clerk
OCR text (5,085c · tika · 95% conf) 
UNITED STATES DISTRICT COURT 
EASTERN DISTRICT OF NEW YORK 
----------------------------------------------------------- X 
SECURITIES AND EXCHANGE COMMISSION, 
 
   Plaintiff,    JUDGMENT 

     21-cv-5292 (ARR) (PK) 
-against-  
     

TIMOTHY PAGE, TREVOR PAGE, TICINO CAPITAL 
LIMITED, WELLESLEY HOLDINGS LIMITED,  
PORRIMA LIMITED, EMERGENT INVESTMENTS  
COMPANY, and FJ INVESTMENTS INTERNATIONAL  
INC., 
 
   Defendants.   
----------------------------------------------------------- X 

An Opinion and Order of the Honorable Allyne R. Ross, United States District Judge 

having been filed on October 10, 2024, adopting the Report and Recommendation of Magistrate 

Peggy Kuo, dated September 13, 2024, which recommended that the Court find Timothy Page 

and the Corporate Defendants liable for violations of Sections 10(b) of the Exchange Act and 

Rule 10b-5(a) and (c) promulgated thereunder, Sections 5(a) and (c) and 17(a)(1) and (3) of the 

Securities Act; find Timothy Page liable for violations of Sections 9(a)(2) and 13(d) of the 

Exchange Act; and order equitable relief against Relief Defendant Janan Page; that the Court:  

1. Permanently enjoin Timothy Page and the Corporate Defendants from violating 

Section 10(b) of the Exchange Act and Rule 10b-5 promulgated thereunder and Sections 5 and 

17(a) of the Securities Act;  

2. Permanently enjoin Timothy Page from violating Sections 9(a) and 13(d) of the 

Exchange Act; 

3. Permanently enjoin Timothy Page from participating in the issuance, purchase offer, or 

sale of any security; provided, that such injunction shall not prevent him from purchasing or 

selling securities listed on a national securities exchange for his own personal account;  

Case 1:21-cv-05292-ARR-PK     Document 93     Filed 11/14/24     Page 1 of 3 PageID #: 840



4. Order the disgorgement of the illegal proceeds and prejudgment interest in the 

following amounts:  

a. Timothy Page: $7,652,228 in disgorgement; $983,819 in prejudgment interest;  

b. Wellesley: $1,928,907 in disgorgement; $133,853 in prejudgment interest;  

c. Porrima: $753,239 in disgorgement; $52,270 in prejudgment interest;  

d. Emergent: $456,963 in disgorgement; $34,298 in prejudgment interest;  

e. Janan Page: $1,085,000 in disgorgement; $181,296 in prejudgment interest; 

5. Order that the Corporate Defendants be jointly and severally liable for Timothy Page’s 

disgorgement and prejudgment interest in the following amounts:  

a. Wellesley: $2,062,760;  

b. Porrima: $805,508;  

c. Emergent: $491,261; and  

6. Impose civil penalties in the following amounts:  

a. Timothy Page: $7,652,228;  

b. Wellesley: $1,928,907;  

c. Porrima: $753,239;  

d. Emergent: $456,963; it is  

 ORDERED AND ADJUDGED that Timothy Page and the Corporate Defendants are 

liable for violations of Sections 10(b) of the Exchange Act and Rule 10b-5(a) and (c) 

promulgated thereunder, Sections 5(a) and (c) and 17(a)(1) and (3) of the Securities Act; that 

Timothy Page is liable for violations of Sections 9(a)(2) and 13(d) of the Exchange Act; and 

equitable relief is ordered against Relief Defendant Janan Page; it is further 

Case 1:21-cv-05292-ARR-PK     Document 93     Filed 11/14/24     Page 2 of 3 PageID #: 841



ORDERED and ADJUDGED that Timothy Page and the Corporate Defendants are 

permanently enjoined from violating Section 10(b) of the Exchange Act and Rule 10b-5 

promulgated thereunder and Sections 5 and 17(a) of the Securities Act; that Timothy Page is 

permanently enjoined from violating Sections 9(a) and 13(d) of the Exchange Act; that Timothy 

Page is permanently enjoined from participating in the issuance, purchase offer, or sale of any 

security; provided, that such injunction shall not prevent him from purchasing or selling 

securities listed on a national securities exchange for his own personal account; it is further 

ORDERED and ADJUDGED that the disgorgement of the illegal proceeds and 

prejudgment interest is hereby ordered in the following amounts: a. Timothy Page: $7,652,228 

in disgorgement; $983,819 in prejudgment interest; b. Wellesley: $1,928,907 in disgorgement; 

$133,853 in prejudgment interest; c. Porrima: $753,239 in disgorgement; $52,270 in 

prejudgment interest; d. Emergent: $456,963 in disgorgement; $34,298 in prejudgment interest; 

e. Janan Page: 

$1,085,000 in disgorgement; $181,296 in prejudgment interest; it is further 

ORDERED and ADJUDGED that the Corporate Defendants are jointly and severally 

liable for Timothy Page’s disgorgement and prejudgment interest in the following amounts: a. 

Wellesley: $2,062,760; b. Porrima: $805,508; c. Emergent: $491,261; and that civil penalties 

penalties are imposed in the following amounts: a. Timothy Page: $7,652,228; b. Wellesley: 

$1,928,907; c. Porrima: $753,239;  and d. Emergent: $456,963.

Dated: Brooklyn, NY Brenna B. Mahoney 
           November 14, 2024 Clerk of Court 

By: /s/Jalitza Poveda 
Deputy Clerk 

Case 1:21-cv-05292-ARR-PK     Document 93     Filed 11/14/24     Page 3 of 3 PageID #: 842

Related documents (1)