Quote from: truckinusa on May 31, 2017, 01:38:24 AM

Quote from: RoomBot on May 30, 2017, 09:51:07 PM

Quote from: suchmoon on May 30, 2017, 08:20:56 PM

Quote from: truckinusa on May 30, 2017, 07:54:17 PM

Can he file bankruptcy when faced with a judgement from the SEC?

IANAL but I don't think so:

(edit: I mean he can file but it won't help him)

https://www.law.cornell.edu/uscode/text/11/523

Quote

11 U.S. Code § 523 - Exceptions to discharge

(a) A discharge under section 727, 1141, 1228(a), 1228(b), or 1328(b) of this title does not discharge an individual debtor from any debt

[...]

that
(A) is for
(i) the violation of any of the Federal securities laws (as that term is defined in section 3(a)(47) of the Securities Exchange Act of 1934), any of the State securities laws, or any regulation or order issued under such Federal or State securities laws; or
(ii) common law fraud, deceit, or manipulation in connection with the purchase or sale of any security;

3 strikes --- you're out!

I wonder how that works. A judgement can be renewed indefinitely. Do the Feds typically renew them? I'm thinking 10 years is up after he gets out assuming he serves 80 months. So they take 25% of his salary or whatever the state allows for the rest of his life until he pays back? Do the proportionally pay me back at 10 cents a month lol?(I lost $1000).

It's up to the plaintiffs to keep adding liens and send the Sheriffs to grab property