SEC v. OwnZones Media Network, Inc., et al.

Case No. 20-cv-03108-MCS-JPR (C.D. Cal.)

On April 2, 2020, the Commission filed a complaint (the “Complaint”) against OwnZones Media Network, Inc. (“OwnZones”), Daniel Goman, and Joseph Goman (collectively, the “Defendants”). The Complaint alleged that, from 2011 through at least 2020, the Defendants violated federal securities laws by raising roughly $45 million offering and selling an unregistered securities offering to over a thousand investors without any exemption from registration. The Complaint also alleged that Daniel and Joseph Goman committed fraud in the course of offering and selling OwnZones stock. See Complaint.

On January 13, 2021, the Court entered Final Judgments against OwnZones and Daniel Goman, and on March 17, 2021, the Court entered a Final Judgment against Joseph Goman (the “Final Judgments”). The Defendants were ordered to pay a total of $2,494,010.99 in disgorgement, prejudgment interest, and civil penalties to the Commission within 30 days after Final Judgment was entered against each Defendant. See OwnZones’ Final Judgment, Daniel Goman’s Final Judgment, and Joseph Gorman’s Final Judgment.

On March 18, 2022, the Court entered an Order Establishing a Fair Fund, Appointing a Tax Administrator and Distribution Agent, and Authorizing Payment of Administrative Fees, Expenses, and Tax Obligations (the “March 18th Order”). See the Court’s Order.

The March 18th Order established a Fair Fund, pursuant to Section 308(a) of the Sarbanes-Oxley Act of 2002, so the penalties, along with the disgorgement and prejudgment interest, collected can be distributed to those harmed by the Defendants’ conduct described in the Complaint (the “Fair Fund”). The Fair Fund consists of $2,334,010.99 collected from the Defendants, and any future funds paid pursuant to the Final Judgments will be added to the Fair Fund.

The March 18th Order also appointed Miller Kaplan Arase LLP as the Tax Administrator to fulfill the tax obligations of the Fair Fund, and it appointed Guidehouse Inc., Baker & Hostetler LLP, and PACE Claims Services LLC as the Distribution Agent to oversee the administration and distribution of the Fair Fund to harmed investors.

For more information, please contact the Fund Administrator:

Phone: (833) 373-3535
Email: Support@DistributionAgentGBP.com