Law School taught me a lot of obscure things that were meant to expand my mind, not to facilitate my practice. Oddly enough, DISGORGEMENT seems to have been one of those things if only because nobody uses it. And why doesn’t anybody use it, it seems lawful, fair and necessary. And if they do use it, why don’t we hear about it fulfilling one of the tenets of criminal law, deterrence.
I Googled the term for a standard definition and the first up was from www.investopedia.com – how apropos.
Disgorgement
What does it Mean?
A repayment of ill-gotten gains that is imposed on wrong-doers by the courts. Funds that were received through illegal or unethical business transactions are disgorged, or paid back, with interest to those affected by the action. Disgorgement is a remedial civil action, rather than a punitive civil action.
Investopedia Says…
Individuals or companies that violate Securities and Exchange Commission (SEC) regulations are typically required to pay both civil money penalties and disgorgement. Civil money penalties are punitive, while disgorgement is about paying back profits made from those actions that violated the SEC’s regulations.
However, disgorgement payments are not only demanded of those who violate securities regulations. Anyone profiting from illegal or unethical activities may be civilly required to disgorge their profits.
What better policy than this? What better time than now? Are we a nation of laws or are we all out for ourselves?
Disgorge assets at the actual current value and turnaround this superstructure.