SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 16908 / February 26, 2001
SECURITIES AND EXCHANGE COMMISSION v. EDWARD GURIN, JOSHUA GURIN AND
TRINARC CORPORATION, 01 Civ. 1649 (WK) (S.D.N.Y.)
The Securities and Exchange Commission filed today a Complaint in the
United States District Court for the Southern District of New York
charging Edward Gurin; his father, Dr. Joshua Gurin; and Edward
Gurin's start-up company, Trinarc Corporation, with various schemes to
defraud purchasers of unregistered, and in some cases non-existent,
securities of private companies. The Commission simultaneously filed
an emergency application asking the Court, among other things, to (1)
temporarily and preliminarily enjoin defendants Edward Gurin and
Trinarc Corporation, who are presently conducting a fraudulent
offering of securities, from committing the violations alleged in the
Complaint, (2) freeze assets of Edward Gurin and Trinarc Corporation,
(3) direct Edward Gurin and Trinarc Corporation to provide
accountings, (4) order Edward Gurin to repatriate assets held outside
the United States, and (5) permit expedited discovery and prohibit the
destruction of documents. The Commission alleges that through the
various schemes, the defendants collectively raised over $1.2 million
from at least eight investors.
Named in the Complaint are
Edward Gurin, 26-years old, lives in New York, New York and is the
chief executive of defendant Trinarc Corporation. Gurin was associated
with The Thermopylae Group, Inc., a now defunct broker-dealer, from
December 1999 to June 2000, and served as that firm's president and
general securities principal. Gurin was associated with other
broker-dealers from September 1997 to April 2000.
Dr. Joshua Gurin, Edward Gurin's father, is a retired physician living
in New York. According to several investors, Joshua Gurin touted
Edward Gurin as a financial genius who has handled investments for
many famous people.
Trinarc Corporation ("Trinarc"). Trinarc was incorporated in Delaware
in April 2000 and is not registered with the Commission. Trinarc's
principal place of business is 350 Fifth Avenue, Room 6907, New York.
In August 2000, Trinarc filed a Form D with the Commission to raise
approximately $3 million from the sale of securities purportedly
exempt from registration. According to a private placement memorandum
for Trinarc securities dated August 9, 2000, Trinarc "creates and
sells high-performance, low cost multimedia computers for the home,
educational, business and institutional markets." According to
SNIPPETS:
SECURITIES AND EXCHANGE COMMISSION v. EDWARD GURIN, JOSHUA GURIN AND TRINARC CORPORATION, 01
The Securities and Exchange Commission filed today a Complaint in the United States District
The Commission simultaneously filed an emergency application asking the Court, among other
ited States, and permit expedited discovery and prohibit the destruction of documents.
The Commission alleges that through the various schemes, the defendants collectively raised
Edward Gurin, 26-years old, lives in New York, New York and is the chief executive of
According to several investors, Joshua Gurin touted Edward Gurin as a financial genius who
Trinarc's principal place of business is 350 Fifth Avenue, Room 6907, New York.
According to Trinarc's Form D, Edward Gurin is a Beneficial Owner, Director and Executive
Over the past several weeks, Edward Gurin has sought to raise several hundred thousand
Second, Edward Gurin has represented that Trinarc is planning an initial public offering for
"Mike Grippo" is actually an undercover agent of the FBI who has recorded Edward Gurin's
In late 1999, they obtained $300,000 from an investor by purporting to sell him Trinarc
During the spring of 2000, Edward Gurin, aided by Joshua Gurin, fraudulently raised at least
Not only did the Gurins lie about the existence of these securities, but they also falsely
Gurins and into an account at a Nigerian bank.
In addition to the interim relief sought in the application filed today, the Commission seeks
The Commission acknowledges the assistance of the United States Attorney's Office for the
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