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SEC v AMAZON NATURAL TREASURES, et al Click to find out why . . .



Keywords & Phrases
CaseNo: LR-16924, CourtName: THE COMMISSION ANNOUNCED TODAY THAT IT FILED A FEDERAL COURT ACTION, Defendant: Amazon Natural Treasures, Inc. Michael A. Sylver and Domingos Loricchio Jr., Plaintiff: SEC, State: NV Nevada, UniqueCaseRef: SEC>LR-16924, Exchange Act, Securities, Commission, Amazon, Violations, Thereunder, Sylver, Domingos Loricchio, Permanent Injunction, Amazon Natural Treasures, Michael, Officers, Complaint, Alleges, Misleading, Omissions, Internet, Revenue, Stock, Civil, Penalties, Aiding, Abetting, District Court, Las Vegas, Nevada, Disgorgement, Prejudgment, Civil Money Penalties , ContentID: 120241190

Case Documents
1 2001-03-02 SEC LITIGATION RELEASE
[ see first page and extracted highlights below  ] ItemID: 104283
2 pages
TXT
Total Documents: 1 document , 2 pages
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1 . SEC LITIGATION RELEASE

EXTRACTED KEY WORDS
SECURITIES
COMMISSION
AMAZON
VIOLATIONS
THEREUNDER
SYLVER
DOMINGOS LORICCHIO
PERMANENT INJUNCTION
AMAZON NATURAL TREASURES
MICHAEL
COURT
OFFICERS
COMPLAINT
ALLEGES
MISLEADING
OMISSIONS
INTERNET
REVENUE
STOCK
CIVIL
PENALTIES
AIDING
ABETTING
DISTRICT COURT
LAS VEGAS
NEVADA
DISGORGEMENT
PREJUDGMENT
CIVIL MONEY PENALTIES
   SECURITIES AND EXCHANGE COMMISSION

   LITIGATION RELEASE NO. 16924 / March 2, 2001

   SECURITIES AND EXCHANGE COMMISSION v AMAZON NATURAL TREASURES, INC.
   MICHAEL A. SYLVER AND DOMINGOS LORICCHIO JR., Civ. No. CVS-01-0229 (D.
   Nev.)

   The Commission announced today that it filed a federal court action
   for securities fraud against Amazon Natural Treasures, Inc., a Las
   Vegas-based dietary supplement company, its president, Michael Sylver,
   and one of its former officers, Domingos Loricchio Jr. The complaint
   alleges that, from at least 1997 through March 2000, Amazon made
   numerous false and misleading statements and omissions in public
   filings with the Commission, press releases, its Internet web site,
   and other documents disseminated to the public. The statements and
   omissions broadly fall into four categories (1) overstatement of sales
   revenue for the year ended December 31, 1998; (2) undisclosed cash and
   stock given to Sylver by Amazon; (3) baseless and unreasonable revenue
   projections and other financial information; and (4) false and
   misleading claims about the benefits and safety of Amazon's products.
   The Complaint also alleges that Amazon unlawfully sold millions of
   shares of unregistered, non-exempt stock and violated laws requiring
   that the company create and maintain adequate books and records and
   internal controls and file timely periodic reports with the
   Commission.

   The Commission's action, filed in the U.S. District Court in Las
   Vegas, Nevada, seeks a permanent injunction against Amazon for
   violating Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933
   ("Securities Act") and Sections 10(b), 13(a), 13(b)(2)(A) and (B) of
   the Securities Exchange Act of 1934 ("Exchange Act") and Rules 10b-5,
   12b-20, 12b-25, 13a-1, 13a-13, and 13b2-1 thereunder. Against Sylver,
   the Commission seeks an order of permanent injunction, disgorgement
   (including prejudgment interest), civil money penalties, and an
   officer and director bar for violations of Sections 5(a), 5(c) and
   17(a) of the Securities Act and Section 10(b) of the Exchange Act and
   Rules 10b-5 and 13b2-2 thereunder, and for aiding and abetting
   Amazon's violations of Section 13(a) and 13(b)(2)(A) and (B) of the
   Exchange Act and Rules 12b-20, 12b-25, 13a-1, 13a-13, and 13b2-1
   thereunder. Finally, the Commission seeks a permanent injunction and
   civil penalties against Loricchio Jr. for violations of Section 17(a)
   of the Securities Act and Section 10(b) of the Exchange Act and Rule
   10b-5 thereunder, and for aiding and abetting Amazon's violations of
   Section 13(a) of the Exchange Act and Rules 12b-20, 12b-25, 13a-1 and
   13a-13 thereunder.
     _________________________________________________________________

SNIPPETS:
  • SECURITIES AND EXCHANGE COMMISSION v AMAZON NATURAL TREASURES, INC. MICHAEL A. SYLVER AND
  • The Commission announced today that it filed a federal court action for securities fraud
  • The complaint alleges that, from at least 1997 through March 2000, Amazon made numerous false
  • The statements and omissions broadly fall into four categories overstatement of sales revenue
  • The Complaint also alleges that Amazon unlawfully sold millions of shares of unregistered,
  • The Commission's action, filed in the U.S. District Court in Las Vegas, Nevada, seeks a
  • Against Sylver, the Commission seeks an order of permanent injunction, disgorgement
  • the Commission seeks a permanent injunction and civil penalties against Loricchio Jr.
  • for violations of Section 17of the Securities Act and Section 10of the Exchange Act and Rule
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