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Microcap & Penny Stocks : SEXI: Mostly Fact, A Little Fiction, Not Vicious Attacks -- Ignore unavailable to you. Want to Upgrade?

To: Gene who wrote (12568)	1/28/1998 7:36:00 AM
From: Charles A. King	Read Replies (1) \| Respond to of 13351

SHELDON KRAFT CONSENTS TO BAR FROM ASSOCIATION WITH ANY REGULATED ENTITY AND PARTICIPATION IN ANY OFFERING OF PENNY STOCK The Commission announced on January 26 that administrative proceedings pursuant to Sections 15(b) and 19(h) of the Securities Exchange Act of 1934 (Exchange Act) were instituted against Sheldon Kraft (Kraft). The Order Instituting Proceedings, Making Findings and Imposing Remedial Sanctions (Order) found that since about 1984 Kraft has been a registered representative employed by various brokerage firms located in the New York City area, including Commonwealth Associates and M.H. Meyerson & Co. The Order also found that on January 14, 1998, the Commission filed a civil injunctive action against Kraft alleging that Kraft conspired with Charles O. Huttoe, the Chairman of the Board and Chief Executive Officer of Systems of Excellence, Inc. (SOE), to manipulate the market for the securities of SOE. The Order further found that on January 14, 1998, without admitting or denying any of the allegations contained in the Commission_s complaint, Kraft consented to the entry of an order of permanent injunction prohibiting him from violating Sections 5 and 17(a) of the Securities Act of 1933, and Section 10(b) of the Exchange Act and Exchange Act Rule 10b-5, and granting other relief. Simultaneously with the institution of the administrative proceedings, the Commission accepted Kraft's offer of settlement in which he consented, without admitting or denying the Commission's findings, to the issuance of the Order which bars him from association with any broker, dealer, municipal securities dealers, investment adviser or investment company, and participation in any offering of penny stock. (Rel. 34-39579; File No. 3-9534)