Alexander
Securities & Exchange Commission v. Alexander
Opinion
Lead Opinion
Koh, J.
ORDER GRANTING IN PART AND DENYING IN PART PLAINTIFF’S MOTION FOR SUMMARY JUDGMENT
Before the Court is Plaintiff Securities and Exchange Commission’s (“Plaintiff’) motion for summary judgment against Barbra Alexander and Michael E, Swanson (collectively, “Defendants”). ECF No. 65, (“Mot.”). 1 Defendants have not filed. *1076 an opposition. Having considered Plaintiffs motion, the relevant law, and the record in this case, the Court hereby GRANTS in part and DENIES in part Plaintiffs motion for summary judgment.
1. BACKGROUND
In the instant case, Plaintiff alleges that from 2006 to 2009, Defendants Barbra Alexander, Michael Swanson, and . Beth Pifia 2 misappropriated millions of dollars raised from investors through the fraudulent sale of interests in two real estate investment funds. Compl. ¶ 1. According to the complaint, from November 2006 to February 2008, Alexander and Pifia were principals of A & P Properties, Inc., the predecessor to APS Funding, Inc. Id. ¶ 13. Swanson provided consulting services to Alexander, Pifia, and A & P Properties during this time. Id. ¶ 12. In February 2008, A & P Properties was renamed APS Funding, with Alexander serving as President, Swanson as…