Geoff Eiten was also IR for Stem Genetics. Since Geoff has been shy in updating Stem Genetic investors lately web.archive.org /with all the investigations going on I herebye present the following up date:
FINAL JUDGMENT ENTERED AGAINST GINO CARLUCCI AND G&G CAPITAL
On October 6, a Final Judgment was entered against Gino Carlucci
(Carlucci) and G&G Capital, LLC (G&G), a limited liability company
controlled by Carlucci. Carlucci and G&G were permanently enjoined from
future violations of the antifraud provisions of the federal securities
laws and ordered to pay disgorgement of $1,012,453.00 plus prejudgment
interest thereon together with a civil penalty of $1,076,486.31.
Carlucci was also enjoined from future violations of the issuer
reporting and officer certification provisions of the Securities
Exchange Act of 1934 and placed under officer-director and penny stock
bars. Finally, Carlucci and G&G were ordered to dismiss an adversary
proceeding they had filed against the Commission in the United States
Bankruptcy Court for the District of Arizona.
In October 2003, the Commission filed a complaint, in the U.S. District
Court for the District of Utah, against twenty-one individuals and
entities involved in a scheme to sell securities in five United States-
based microcap issuers to hundreds of investors located primarily in the
United Kingdom, Australia and New Zealand through a boiler room located
in Vientiane, Laos. In that action, the Commission obtained an order
which, among other things, froze the assets of a number of defendants,
including Carlucci. On March 17, 2004, the Court found Carlucci and G&G
in contempt of the order freezing Carlucci’s assets.
The Final Judgment, to which the defendants consented without admitting
or denying the allegations of the Commission’s complaint, specifically
enjoins Carlucci and G&G from future violations of Section 10(b) of the
Exchange Act and Rule 10b-5 promulgated thereunder, and Section 17(a) of
the Securities Act of 1933 and orders Carlucci and G&G to pay
disgorgement of $1,012,453.00, together with prejudgment interest
thereon in the amount of $64,033.31, and a civil penalty of
$1,076,486.31.
The Final Judgment also enjoins Carlucci from future violations of Rule
13a-14 under the Exchange Act and from aiding and abetting violations of
Section 13(a) of the Exchange Act and Rules 12b-20, 13a-11, and 13a-13
thereunder. The judgment also bars Carlucci from acting as an officer
or director of any issuer that has a class of securities registered
pursuant to Section 12 of the Exchange Act or that is required to file
reports pursuant to Section 15(d) of the Exchange Act as well as barring
Carlucci from participating in any offering of penny stock. [SEC v.
David M. Wolfson, et al., Docket No. 2:03 CV-00914 DAK, USDC, D. Utah]
(LR-18930) |
