Securities and Exchange Commission v. Criterion Wealth Management Insurance Services, Inc.

Case 2:20-cv-01402-ODW-JEM Document Filed 04/25/ Page 1 of Page ID #:6855

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United States District Court Central District of California

11 SECURITIES AND EXCHANGE Case № 2:20-cv-01402-ODW (JEMx)

COMMISSION,

ORDER GRANTING IN PART AND Plaintiff, DENYING IN PART PLAINTIFF’S v. MOTION FOR SUMMARY JUDGMENT [41]; ORDER

CRITERION WEALTH MANAGEMENT

15 SERVICES, INC., et al., DENYING DEFENDANTS’

MOTIONS FOR SUMMARY

16 Defendants. JUDGMENT [50] [51] 17 I. INTRODUCTION The Securities and Exchange Commission (“SEC”) brought this enforcement 20 action against Defendant Criterion Wealth Services and its co-owners, Defendants 21 Robert A. Gravette and Mark A. MacArthur, for fraud and breach of fiduciary duty in 22 violation of the Investment Advisers Act of 1940 (“Advisers Act”), 15 U.S.C. 23 §§ 80b-1 to 80b-18c. Three summary judgment motions are pending. First, the SEC 24 moves for summary…