Did Armand, Hernandez, and Pham get different fines and bans in court?

"Armand and Hernandez consented to bifurcated settlements, subject to court approval, permanently enjoining them from violating the charged provisions of the federal securities laws, subjecting them to conduct-based injunctions, and barring them from acting as officers or directors. The court will determine the amount of disgorgement and prejudgment interest and any civil penalties."

"The complaint seeks permanent injunctions, conduct-based injunctions, disgorgement of allegedly ill-gotten gains plus pre-judgment interest, civil penalties, and officer-and-director bars against all the defendants."

"The defendants also allegedly engaged in market manipulation themselves and hired so-called market makers ZM Quant Investment Ltd. and Gotbit Consulting LLC to provide market-manipulation-as-a-service, which included generating artificial trading volume or manipulating the price of the Saitama Inu and SaitaRealty crypto assets"

"Securities and Exchange Commission v. Russell Armand, Maxwell Hernandez, Manpreet Singh Kohli, and Nam Tran , No. 1:24-cv-12586-AK (D. Mass. filed Oct. 9, 2024)"

"On March 25, 2025, the Court entered a Judgment as to Defendant Vy Pham. ... The Judgment, which was filed with the consent of both parties, explicitly provided that the Defendant shall pay disgorgement of ill-gotten gains, prejudgment interest, and a potential civil penalty of an amount that shall be determined by the Court upon motion of the Commission."

"The Judgment, which was filed with the consent of both parties, explicitly provided that the Defendant shall pay disgorgement of ill-gotten gains, prejudgment interest, and a potential civil penalty of an amount that shall be determined by the Court upon motion of the Commission."

"On June 5, 2024, Defendant Pham pled guilty in a parallel criminal action before this Court, U.S. v. Pham, 24-cr-10137, and was released on supervised release."

"Under the facts and circumstances of this particular matter, Counsel for the Commission no longer intends to return to the Court to make a motion for determination of monetary remedies. As there are no longer any open issues related to the Judgment entered on March 25, 2025 and the matter was closed on that date, there is no further action necessary by the Court."

"The complaint seeks a permanent injunction, conduct-based injunction, disgorgement of allegedly ill-gotten gains plus pre-judgment interest, civil penalties, and an officer-and-director bar. Pham consented to a bifurcated settlement, subject to court approval, permanently enjoining her from violating the charged provisions of the federal securities laws, subjecting her to a conduct-based injunctio"

"According to the SEC’s complaint, crypto asset promoter Pham personally engaged in market manipulation of the Saitama Inu crypto asset through coordinated purchases with other promoters designed to lure in new investors by creating the illusion of growing market interest in Saitama Inu."

"For the Robo Inu crypto asset, Pham allegedly.hired so-called market maker Gotbit Consulting LLC to provide market-manipulation-as-a-service, which included generating artificial trading volume or manipulating the price of the Robo Inu crypto asset that was offered and sold as securities to retail investors in unregistered transactions."

"The SEC appreciates the assistance of the FBI and the United States Attorney’s Office for the District of Massachusetts, which has announced a parallel criminal action."

"The SEC said that Armand, Hernandez, and Pham have agreed to settlements, subject to court approval."

"Three promoters, Armand, Hernandez, and Pham, have agreed to settlements without admitting or rejecting the claims."

"Those settlements are expected to include penalties as well as bars on serving in executive positions ."

"Court approval remains a necessary step, so the terms are not yet fully finalized in a judicial sense."

"The court will decide how much money the promoters will have to pay."

"As part of its enforcement push, the SEC is seeking permanent injunctions, disgorgement of allegedly ill-gotten gains, civil penalties, and officer-and-director bars for certain defendants ."

"They ask for permanent injunctions, the return of ill-gotten earnings with prejudgment interest, civil fines, and bans on serving as officers or directors."

"According to the SEC, Russell Armand, Maxwell Hernandez, Manpreet Singh Kohli, Nam Tran, and Vy Pham hired ZM Quant and Gotbit to manipulate trading volumes."