Facts

Plaintiff Securities and Exchange Commission filed suit against Defendants Peter H. Pocklington, Lantson E. Eldred, Terrence J. Walton and Robert A. Vanetten, Nova Oculus Partners, LLC, formerly The Eye Machine, LLC, AMC Holdings, LLC, and others and asserted causes of action for securities fraud and violations of the Securities Act of 1933.

PLAINTIFF'S CONTENTIONS: Plaintiff contended from 2014 to 2017, Defendants raised over $14 million from more than 260 investors when Defendants concealed the true identity of the person over the company, misappropriated investor funds to pay personal expenses, and funneled undisclosed and excessive commissions to their sales agent. Specifically, Plaintiff contended Defendant Nova Oculus Partners, LLC, formerly The Eye Machine, LLC, was founded by defendant Peter H. Pocklington and he was substantially involved in the deception. Plaintiff contended Pocklington was a convicted felon sanctioned by Arizona regulators for securities fraud, therefore, to prevent investors from learning that he was in control of Eye Machine, he had his co- defendant, Lantson E. Eldred, serve as the portrayed forefront of the company. Plaintiff also contended Pocklington and Eldred made false and misleading statements to investors about how investor funds would be spent.

DEFENDANTS'CONTENTIONS: Defendants denied Plaintiff's contentions and denied any wrongdoing.

Result

Judgment was entered in favor of Plaintiff and Defendant Lantson Eldred was permanently restrained and enjoined from violating Section 17(a) of the Securities Act of 1933. Further, defendant was ordered to pay $90,535 to the Securities and Exchange Commission.