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fuscucla1
Guest
I signed a consent and undertaking back in september for a civil case with the SEC, then in january withdrew some money from the account that I turned over. Its my understanding that the money I withdrew is mine but the SEC is disputing it. The exact phrases in the legal document that pretain to the amounts disgorged are as follows: "....liable for and agrees to pay, disgorgement in the amount of $211,250, representing gains from the purchase and sale of....... as alleged in the amended statement, together with prejudgement interest thereon." then later it states: "..take all necessary steps to cause the entire balance of the account; consisting of the proceeds of the trading, together with interest that has accrued thereon, to be transferred to the registry of the court....". The money I withdrew was my initial investment it was not the profits or the interest, from my understanding it says the entire balance consisting of the profits and interest not the balance prior to trading. Anyhow they are now taking me to court for $7,000, should I just repay the 7,000 or do I have grounds to fight for it and possibly keep it?