Securities & Exchange Commission v. O'Hagan

MEMORANDUM OPINION AND ORDER

RENNER, Senior District Judge.

INTRODUCTION

Before the Court are the parties’ cross-motions for summary judgment. The plaintiff, the Securities and Exchange Commission (“SEC”), brings this action for disgorgement and permanent injunction based upon the collateral estoppel effect of defendant James O’Hagan’s prior criminal conviction for securities fraud. O’Hagan moves for summary judgment on the grounds that the SEC’s civil action is barred by the Fifth Amendment Double Jeopardy Clause, merger and res judicata, and that the Supreme Court decision in Central Bank, of…