As a result of the Court’s Order of
November 17, 2003, granting summary judgment to plaintiffs, and after conducting
a hearing on the appropriate remedy under 32 M.R.S.A. § 10603(1), it is hereby
ORDERED as follows:
Michael A Doyle is permanently enjoined from offering or selling unregistered
securities in the State of Maine or transacting business as a securities broker-dealer,
sales representative, or agent in the State of Maine unless licensed or exempt
shall pay restitution in the amount of $205,114.15 to the Securities
Administrator for distribution to the victims.
the event that the Law Court or a federal court subsequently determines that plaintiffs’
claim for restitution was discharged by Doyle’s March 18, 2004 bankruptcy
discharge, Doyle shall, as an alternative to paying restitution as set forth in
paragraph 2 above, disgorge $194,000.00 to the Securities Administrator and pay
a civil penalty to the Securities Administrator in the amount of $11,114.15.
shall be given credit toward his payment obligations under paragraphs 2 and 3
above for any restitution he pays or has paid as a condition of his probation
in State v. Doyle, CR-98-1167.
accordance with 14 M.R.S.A. §1602-B, prejudgment interest is awarded to
plaintiffs from the date the Complaint was filed, December 19, 2002, at the
rate of 3.28%.In accordance with 14
M.R.S.A. §1602-C, post judgment interest is awarded to plaintiffs at the rate