Joint Motion for Entry of Stipulated Final Order for Permanent Injunction — FTC v. Ponte Investments

Record facts

U.S. District Court, District of Rhode Island · No. 1:20-cv-00177-JJM-PAS · Doc. 15 · 2020-09-25 · Docket on CourtListener

Summary

A joint motion filed September 25, 2020 as Doc. 15 in Federal Trade Commission v. Ponte Investments, LLC, et al., No. 1:20-cv-00177-JJM-PAS, in the U.S. District Court for the District of Rhode Island. The FTC and defendants Ponte Investments, LLC, d/b/a SBA Loan Program, and John C. Ponte ask the court to enter a proposed Stipulated Final Order for Permanent Injunction, appended as Exhibit 1. The motion recounts that the FTC filed its complaint on or about April 17, 2020 alleging violation of Section 5 of the FTC Act, 15 U.S.C. §45(a), that a Stipulated Preliminary Injunction was entered on or about April 20, 2020, and that the court granted a 90-day stay on July 8, 2020. It states the Commission has since authorized FTC counsel to file the Stipulated Order. The three-page motion is signed by counsel for both sides.

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UNITED STATES DISTRICT COURT 
DISTRICT OF RHODE ISLAND 
 
FEDERAL TRADE COMMISSION, 
Plaintiff 
v. 
PONTE INVESTMENTS, LLC, a 
limited liability company, also d/b/a 
SBA LOAN PROGRAM and d/b/a SBA 
LOAN PROGRAM.com, and 
 
JOHN C. PONTE, individually and as 
an officer of PONTE INVESTMENTS, 
LLC, 
 
Defendants 
 
 
 
 
 
CASE NO. 1:20-cv-00177-JJM-PAS 
 
 
JOINT MOTION FOR ENTRY OF 
STIPULATED FINAL ORDER FOR 
PERMANENT INJUNCTION 
 
 
 
NOW COME Plaintiff, Federal Trade Commission (“Commission” or “FTC”) and  
Defendants, Ponte Investments, LLC, d/b/a SBA Loan Program, d/b/a SBA Loan Program.com, 
and John C. Ponte (collectively, the “Defendants”), and each of them, by and through counsel, 
and hereby move this Court for the entry of the attached proposed Stipulated Final Order for 
Permanent Injunction (the “Stipulated Order”), appended as Exhibit 1. 
 
 
In support of this request, the parties state and represent as follows: 
1. On or about April 17, 2020, the FTC filed its Complaint as against the Defendants, and 
each of them, alleging violation of Section 5 of the FTC Act, 15 U.S.C. §45(a), in 
connection with the purported advertising, marketing, promotion, offering for sale or 
Case 1:20-cv-00177-JJM-PAS     Document 15     Filed 09/25/20     Page 1 of 3 PageID #:
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sale of SBA-related products or services, including Paycheck Protection Program 
loans. 
2. On or about April 20, 2020, the FTC and Defendants, and each of them, stipulated and 
agreed to the entry of a Stipulated Preliminary Injunction (“SPI”). 
3. The SPI was entered by the Court on or about April 20, 2020. 
4. FTC Counsel and Defendants subsequently negotiated the proposed Stipulated Order. 
5. Because only a majority vote of the Commission, which is an independent federal 
agency, can approve such agreements, see 16 C.F.R. § 4.14, the parties jointly moved 
the Court for a 90-day stay.   
6. The Court granted the stay on July 8, 2020. 
7. The Commission has now voted on FTC counsel’s recommendation and authorized 
FTC counsel to file the Stipulated Order with the Court. 
WHEREFORE, the FTC and the Defendants, and each of them, jointly move this  
Court for entry of the Stipulated Order.  No argument or hearing is required.  LR Cv 7(c). 
 
Case 1:20-cv-00177-JJM-PAS     Document 15     Filed 09/25/20     Page 2 of 3 PageID #:
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AGREED, CONSENTED & STIPULATED TO: 
Federal Trade Commission 
 Ponte Investments, LLC, d/b/a SBA Loan 
Program, d/b/a SBA Loan Program.com; & 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
John C. Ponte 
 
By its Attorneys,  
 
 
 
 
 
 
 
 
 
 
By their Attorney, 
/s/ Thomas J. Widor  
 
 
 
 
 
 
 
 
 
/s/ Christopher M. Mulhearn 
Thomas J. Widor (DC Bar #490184)  
 
 
 
Christopher M. Mulhearn (RI Bar #5188) 
Sanya Shahrasbi (DC Bar #1671001)  
 
 
 
Law Office of Christopher M. Mulhearn, Inc. 
Daniel Dwyer (DC Bar #286701)  
 
 
 
 
1300 Division Road, Suite 304 
Federal Trade Commission 
 
 
 
 
 
 
 
West Warwick, RI  02893 
600 Pennsylvania Ave., NW, CC-10232  
 
 
Tel.: (401) 533-9330 
Washington, D.C. 20580  
 
 
 
 
 
 
 
Email: cmulhearn@mulhearnlawri.com 
Tel.: (202) 326-3039 
Email: twidor@ftc.gov 
Email: sshahrasbi@ftc.gov 
Email: ddwyer@ftc.gov 
 
Dated: September 25, 2020 
 
 
 
 
 
 
 
 
 
Dated: September 25, 2020 
 
 
 
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