Thursday, August 25, 2016
UPDATE ON SEC CASE - BRASLAU/ESTATE OF RAND CHORTKOFF
FYI: I received this email today, 8/25/2016, in response to my inquiry to the attorney for the SEC, Peter Del Greco, in their case against Braslau and the Estate of Rand Chortkoff.
Judgment was entered against Sam Braslau in May, bringing our action against him to a close. Because he had already been ordered to pay restitution of more than $1.6 million in the parallel criminal action, we did not seek monetary disgorgement against him. He is serving a lengthy jail sentence, so I doubt he will be making that restitution payment anytime soon.
Earlier today we filed our motion for summary judgment against the estate of Rand Chortkoff, the sole remaining defendant. (Mr. Chortkoff died over a year ago, and we substituted his estate as a party.) We seek disgorgement of a bit more than $160,000 from the estate, which is the amount he received in commissions with interest thereon. The estate has indicated it will oppose our motion, and a hearing on it is scheduled for in the US District Court in Los Angeles. It is open to the public, so if you would like to attend, you can, but if you do, it would be a good idea to get in touch with me a few days prior to make sure it is still going forward at that time.
Peter Del Greco