SEC v. CHRISTOPHER BONGIORNO, No. 1:20-cv-00469-JPC, Northern District of Ohio (Apr. 10, 2026) — Judgment

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF OHIO EASTERN DIVISION

1:20-cv-00469-JPC
Doc #: 68
Filed: 04/10/23
1 of 6
PageID #: 798

[UNREADABLE EXTRACTION]Mr. Bongiorno over $400,000 in commission payments. (ECF No. 61-3, ¶ 8, PageID #737; see also id., PageID #740-62.) Mr. Bongiorno was not a licensed broker or dealer with the Commission, nor was he associated with a licensed broker or dealer. (ECF No. 53, ¶ 3, PageID #389.) He did not tell the investors he solicited that he earned a forty to fifty percent commission on their investments. (ECF No. 61-2, PageID #668-69, #671-73 & #675-76.)

Also using the alias John Powers, Mr. Bongiorno solicited investments in Petroteq Energy, Inc. that earned him approximately $1,800,000 in commission payments. (Id., PageID #671-73 & #675-76; ECF No. 61-3, ¶ 9, PageID #738.) As with USLG, Mr. Bongiorno made a commission of approximately forty percent on the investments he solicited but did not share that information with investors. (ECF No. 61-2, PageID #680-84; id., Page ID #671-73 & #675-76.) Further, some of the investments were deposited in a shell company that Mr. Bongiorno controlled. (ECF No. 61-3, ¶ 10, PageID #738.)

Mr. Bongiorno invoiced USLG and Petroteq to obtain his commission payments. (ECF No. 61-2, PageID #589, #654 & #687.) Those invoices reflected services for “marketing” and “telecommunication,” not commission payments on investments. (Id., PageID #589 & #687.) At least one former USLG employee testified that these invoices intentionally concealed the nature of the company’s payments to Mr. Bongiorno. (Id., PageID #589.)

The summary-judgment record establishes the foregoing facts. During his testimony as part of the SEC’s investigation of this and related matters,STATEMENT OF THE CASE

On February 28, 2020, Plaintiff the Securities and Exchange Commission filed this lawsuit alleging that Defendants violated several federal securities laws. (ECF No. 1.) Plaintiff seeks an order enjoining Defendants from violating federal securities laws and from soliciting any person or entity to purchase or sell securities. (Id.) The Commission also seeks disgorgement and civil penalties. (Id.) Plaintiff amended on October 28, 2020. (ECF No. 24.) The amended complaint adds factual allegations but asserts the same claims and seeks the same remedies as the original complaint. (Id.)

3On January 23, 2023, Plaintiff moved for partial summary judgment against Mr. Arthur, to which he consented. (ECF No. 60; ECF No. 60-1.) The Court entered that partial judgment, as amended, on February 7, 2023. (ECF No. 64.) The judgment addressed only Mr. Arthur’s liability and injunctive relief against him. (Id.) It left the question of disgorgement and civil penalties against Mr. Arthur and the claims against Mr. Bongiorno to be decided. On January 25, 2023, Plaintiff filed a partial motion for summary judgment as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. (ECF No. 61.) Mr. Bongiorno filed a response to the motion in which he consented to the entry of judgment as to liability against him and requested a hearing on the question of remedy. (ECF No. 66.) Specifically, Mr. Bongiorno objects to any remedy that enjoins him from soliciting any person or entity to purchase or sell securities. (ECF No. 66, ¶ 3, PageID #793.)

ANALYSIS

Pursuant to Rule 56 of the Federal Rules of Civil Procedure, summary judgment is appropriate “if the movant shows that there is no genuine dispute as to any material fact and the movant is entitled to judgment as a matter of law.” Fed. R. Civ. P. 56(a). On a motion for summary judgment, the Court must view evidence in the light most favorable to the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)).

On a motion for summary judgment, the moving party has the initial burden of establishing that there are no genuine issues of material fact as to an essential element of the claim for which the movant is seeking relief. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If the movant satisfies this burden, the burden shifts to the non-movant to present evidence sufficient to establish a genuine dispute as to that element. Id. The non-movant must present more than a mere scintilla of evidence in support of its claim. Id. at 252-253. If the non-movant presents sufficient evidence to create a genuine dispute as to an essential element of the claim, the Court must deny the motion for summary judgment. Id.

In this case, the Plaintiff has moved for partial summary judgment against Mr. Bongiorno on the issue of his liability for the securities law violations asserted in the amended complaint. Mr. Bongiorno has filed a response in which he consents to the entry of judgment as to his liability and requests a hearing on the question of remedy. Specifically, Mr. Bongiorno objects to any remedy that enjoins him from soliciting any person or entity to purchase or sell securities. The Court must view the evidence in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)).

The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securitieselement of the claim or defense at issue. Street v. J.C. Bradford & Co., 886 F.2d 1472, 1479–80 & n.12 (6th Cir. 1989); Chappell v. City of Cleveland, 584 F. Supp. 2d 974, 988 (N.D. Ohio 2008). After discovery, summary judgment is appropriate if the nonmoving party fails to establish “an element essential to that party’s case and upon which that party will bear the burden of proof at trial.” Tokmenko v. MetroHealth Sys., 488 F. Supp. 3d 571, 576 (N.D. Ohio 2020) (citing Celotex Corp. v. Catrett, 477 U.S. 317, 322 (1986)).

“The party seeking summary judgment has the initial burden of informing the court of the basis for its motion” and identifying the portions of the record “which it believes demonstrate the absence of a genuine issue of material fact.” Id. (citing Celotex Corp., 477 U.S. at 322). Then, the nonmoving party must “set forth specific facts showing there is a genuine issue for trial.” Id. (citing Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 250 (1986)). “When the moving party has carried its burden under Rule 56(c), its opponent must do more than show there is some metaphysical doubt as to the material facts.” Matsushita Elec. Indus. Co., 475 U.S. at 586.

Defendant points to no facts in the record that create a genuine dispute of material fact as to his liability for Claims I, II, and III. (ECF No. 66.) In fact, he “consents to the entry of judgment as to the liability alleged” in the amended complaint. (Id., ¶ 1, PageID #792.) And he admitted early on in this case that he was not registered with the Commission as a broker or dealer or associated with someone registered with the Commission as a broker or dealer. (ECF No. 53, ¶ 3, PageID #389.) In addition, Mr. Bongiorno’s invocation of the Fifth Amendment permits the

5Court to infer that his testimony would have been unfavorable to him. Baxter v. Palmigiano, 425 U.S. 308, 319 (1976). Upon an independent review of the record, the Court finds that summary judgment in favor of Plaintiff is appropriate as to Claims I, II, and III.

Defendant opposes only "the relief sought by the SEC." (Id., ¶ 3, PageID #792–93.) Specifically, he opposes the Commission’s proposal that he be "permanently restrain[ed] and enjoin[ed] ... from directly or indirectly ... soliciting any person or entity to purchase or sell any security." (Id., PageID #793.) Consistent with Mr. Bongiorno’s response to the Commission’s motion for a partial summary judgment, the Court GRANTS Plaintiff’s partial motion for summary judgment.

CONCLUSION

For the foregoing reasons, the Court GRANTS Plaintiff’s motion for partial summary judgment as to Mr. Bongiorno’s liability on Claims I, II, and III of the amended complaint. By separate Order, the Court will schedule a status conference to address Mr. Bongiorno’s request for a hearing and the balance of the case.

SO ORDERED.

Dated: April 10, 2023

6

J. Philip Calabrese United States District Judge Northern District of Ohio

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF OHIO EASTERN DIVISION

1:20-cv-00469-JPC
Doc #: 68
Filed: 04/10/23
1 of 6
PageID #: 798

[UNREADABLE EXTRACTION]Mr. Bongiorno over $400,000 in commission payments. (ECF No. 61-3, ¶ 8, PageID #737; see also id., PageID #740-62.) Mr. Bongiorno was not a licensed broker or dealer with the Commission, nor was he associated with a licensed broker or dealer. (ECF No. 53, ¶ 3, PageID #389.) He did not tell the investors he solicited that he earned a forty to fifty percent commission on their investments. (ECF No. 61-2, PageID #668-69, #671-73 & #675-76.)

Also using the alias John Powers, Mr. Bongiorno solicited investments in Petroteq Energy, Inc. that earned him approximately $1,800,000 in commission payments. (Id., PageID #671-73 & #675-76; ECF No. 61-3, ¶ 9, PageID #738.) As with USLG, Mr. Bongiorno made a commission of approximately forty percent on the investments he solicited but did not share that information with investors. (ECF No. 61-2, PageID #680-84; id., Page ID #671-73 & #675-76.) Further, some of the investments were deposited in a shell company that Mr. Bongiorno controlled. (ECF No. 61-3, ¶ 10, PageID #738.)

Mr. Bongiorno invoiced USLG and Petroteq to obtain his commission payments. (ECF No. 61-2, PageID #589, #654 & #687.) Those invoices reflected services for “marketing” and “telecommunication,” not commission payments on investments. (Id., PageID #589 & #687.) At least one former USLG employee testified that these invoices intentionally concealed the nature of the company’s payments to Mr. Bongiorno. (Id., PageID #589.)

The summary-judgment record establishes the foregoing facts. During his testimony as part of the SEC’s investigation of this and related matters,STATEMENT OF THE CASE

On February 28, 2020, Plaintiff the Securities and Exchange Commission filed this lawsuit alleging that Defendants violated several federal securities laws. (ECF No. 1.) Plaintiff seeks an order enjoining Defendants from violating federal securities laws and from soliciting any person or entity to purchase or sell securities. (Id.) The Commission also seeks disgorgement and civil penalties. (Id.) Plaintiff amended on October 28, 2020. (ECF No. 24.) The amended complaint adds factual allegations but asserts the same claims and seeks the same remedies as the original complaint. (Id.)

3On January 23, 2023, Plaintiff moved for partial summary judgment against Mr. Arthur, to which he consented. (ECF No. 60; ECF No. 60-1.) The Court entered that partial judgment, as amended, on February 7, 2023. (ECF No. 64.) The judgment addressed only Mr. Arthur’s liability and injunctive relief against him. (Id.) It left the question of disgorgement and civil penalties against Mr. Arthur and the claims against Mr. Bongiorno to be decided. On January 25, 2023, Plaintiff filed a partial motion for summary judgment as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. (ECF No. 61.) Mr. Bongiorno filed a response to the motion in which he consented to the entry of judgment as to liability against him and requested a hearing on the question of remedy. (ECF No. 66.) Specifically, Mr. Bongiorno objects to any remedy that enjoins him from soliciting any person or entity to purchase or sell securities. (ECF No. 66, ¶ 3, PageID #793.)

ANALYSIS

Pursuant to Rule 56 of the Federal Rules of Civil Procedure, summary judgment is appropriate “if the movant shows that there is no genuine dispute as to any material fact and the movant is entitled to judgment as a matter of law.” Fed. R. Civ. P. 56(a). On a motion for summary judgment, the Court must view evidence in the light most favorable to the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)).

On a motion for summary judgment, the moving party has the initial burden of establishing that there are no genuine issues of material fact as to an essential element of the claim for which the movant is seeking relief. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If the movant satisfies this burden, the burden shifts to the non-movant to present evidence sufficient to establish a genuine dispute as to that element. Id. The non-movant must present more than a mere scintilla of evidence in support of its claim. Id. at 252-253. If the non-movant presents sufficient evidence to create a genuine dispute as to an essential element of the claim, the Court must deny the motion for summary judgment. Id.

In this case, the Plaintiff has moved for partial summary judgment against Mr. Bongiorno on the issue of his liability for the securities law violations asserted in the amended complaint. Mr. Bongiorno has filed a response in which he consents to the entry of judgment as to his liability and requests a hearing on the question of remedy. Specifically, Mr. Bongiorno objects to any remedy that enjoins him from soliciting any person or entity to purchase or sell securities. The Court must view the evidence in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)).

The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securities law violations asserted in the amended complaint. If there is a genuine dispute as to any material fact, the Court must deny the motion for summary judgment. Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 252 (1986). If there is no genuine dispute as to any material fact, the Court must grant the motion for summary judgment and enter judgment in favor of the Plaintiff. Id.

The Court must consider the evidence presented by both parties in the light most favorable to Mr. Bongiorno, the non-moving party. Kirilenko-Ison v. Board of Educ. of Danville Indep. Schs., 974 F.3d 652, 660 (6th Cir. 2020) (citing Matsushita Elec. Indus. Co., Ltd. v. Zenith Radio Corp., 475 U.S. 574, 587 (1986)). The Court must determine whether there is a genuine dispute as to any material fact as to Mr. Bongiorno’s liability for the securitieselement of the claim or defense at issue. Street v. J.C. Bradford & Co., 886 F.2d 1472, 1479–80 & n.12 (6th Cir. 1989); Chappell v. City of Cleveland, 584 F. Supp. 2d 974, 988 (N.D. Ohio 2008). After discovery, summary judgment is appropriate if the nonmoving party fails to establish “an element essential to that party’s case and upon which that party will bear the burden of proof at trial.” Tokmenko v. MetroHealth Sys., 488 F. Supp. 3d 571, 576 (N.D. Ohio 2020) (citing Celotex Corp. v. Catrett, 477 U.S. 317, 322 (1986)).

“The party seeking summary judgment has the initial burden of informing the court of the basis for its motion” and identifying the portions of the record “which it believes demonstrate the absence of a genuine issue of material fact.” Id. (citing Celotex Corp., 477 U.S. at 322). Then, the nonmoving party must “set forth specific facts showing there is a genuine issue for trial.” Id. (citing Anderson v. Liberty Lobby, Inc., 477 U.S. 242, 250 (1986)). “When the moving party has carried its burden under Rule 56(c), its opponent must do more than show there is some metaphysical doubt as to the material facts.” Matsushita Elec. Indus. Co., 475 U.S. at 586.

Defendant points to no facts in the record that create a genuine dispute of material fact as to his liability for Claims I, II, and III. (ECF No. 66.) In fact, he “consents to the entry of judgment as to the liability alleged” in the amended complaint. (Id., ¶ 1, PageID #792.) And he admitted early on in this case that he was not registered with the Commission as a broker or dealer or associated with someone registered with the Commission as a broker or dealer. (ECF No. 53, ¶ 3, PageID #389.) In addition, Mr. Bongiorno’s invocation of the Fifth Amendment permits the

5Court to infer that his testimony would have been unfavorable to him. Baxter v. Palmigiano, 425 U.S. 308, 319 (1976). Upon an independent review of the record, the Court finds that summary judgment in favor of Plaintiff is appropriate as to Claims I, II, and III.

Defendant opposes only "the relief sought by the SEC." (Id., ¶ 3, PageID #792–93.) Specifically, he opposes the Commission’s proposal that he be "permanently restrain[ed] and enjoin[ed] ... from directly or indirectly ... soliciting any person or entity to purchase or sell any security." (Id., PageID #793.) Consistent with Mr. Bongiorno’s response to the Commission’s motion for a partial summary judgment, the Court GRANTS Plaintiff’s partial motion for summary judgment.

CONCLUSION

For the foregoing reasons, the Court GRANTS Plaintiff’s motion for partial summary judgment as to Mr. Bongiorno’s liability on Claims I, II, and III of the amended complaint. By separate Order, the Court will schedule a status conference to address Mr. Bongiorno’s request for a hearing and the balance of the case.

SO ORDERED.

Dated: April 10, 2023

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J. Philip Calabrese United States District Judge Northern District of Ohio