The SEC’s case against Cheri Beth Bowen for securities fraud has been resolved.
According to the SEC, Bowen defrauded the Forsage Ponzi scheme of “at least” $303,000.
The SEC filed a motion on September 1st asking for judgment by consent against Bowen (right).
The requested decision
eliminates the need for a trial on Bowen’s substantive responsibility, and it permanently bars her from breaking the federal securities laws that are the subject of the complaint as well as from taking part in certain additional activities.
In addition, Bowen must pay disgorgement, prejudgment interest, and a civil penalty that will be decided by the court later.
anticipates bringing such a claim for financial compensation once the claims against the other Defendants have been settled.
Fourth Forsage defendant to reach a settlement is Bowen. She adheres to US-based Ponzi scam promoters Samuel Ellis, Sarah Theissen, and Mark Hamlin.
On September 2nd, the court approved Bowen’s suggested Forsage settlement.
The SEC is still pursuing charges against the remaining seven Forsage defendants.