Securities & Exchange Commission v. Amazon Natural Treasures, Inc.

MEMORANDUM **

Michael A. Sylver, the president and chief executive officer of Amazon Natural Treasures, Inc., appeals the order and judgment of the United States District Court for the District of Nevada. The district court imposed a permanent officer *703 or director bar upon Sylver, ordered Sylver to disgorge a total of $232,322, plus all promissory notes inuring to his benefit, and assessed a third-tier statutory penalty against Sylver in the amount of $120,000. On appeal, Sylver contends that the district court abused its discretion at trial by excluding certain documents proffered by Sylver, and by overruling Sylver’s objections to the Securities and Exchange Commission’s (SEC’s) summary exhibits and testimony. Sylver also challenges the district court’s imposition of a permanent officer and director bar, disgorgement, and third-tier statutory penalties.

We find that the district court did not abuse its discretion by excluding certain documents proffered by Sylver at trial or by denying Sylver’s related motion for a new trial. The documents were excluded by the district court because Sylver failed to timely respond to discovery requests by the SEC. Whether the SEC was in…