In a nutshell:
(1) Levin has failed to meet his burden of demonstrating that the Disgorgement amount is unreasonable.
(2) The Disgorgement should not be reduced by any amount recovered from a third party.
(3) The defendant's inability to pay is not relevant to either Disgorgement, or prejudgment interest.
(4) The arguments against prejudgment interest fail.
(5) The argument that Levin followed legal advice failed, because he either ignored or failed to follow counsel's advice.
(6) Levin's argument, that the investors will likely be repaid is without merit.
(7) Levin's argument, that the civil penalty, or reduce it to his purported net worth ($497,000), are wrong.
(8) Levin's cooperation, in other cases, is irrelevant to the civil penalty he should pay.
(9) An evidentiary hearing is not necessary to dispose of the judgment issue.
When the Court enters its ruling on the judgment amount, our coverage of this case shall continue.