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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
COMMISSION HARRIS EXCHANGE COMMISSION LITIGATION UNAUTHORIZED TRANSFERS DEAN DISTRICT GEORGIA PERMANENT INJUNCTION ACT MISAPPROPRIATION FUNDS UNAUTHORIZED SECURITIES TRANSACTIONS MONEY ATLANTA OFFICE BROKER-DEALER FUTURE VIOLATIONS THEREUNDER FRAUDULENT TRANSFER STATE MUTUAL INSURANCE MUTUAL INSURANCE COMPANY ROME HARRIS RECEIVED KICKBACKS CONTINUATION RELIEF ROBERT STRAUSS VICE PRESIDENT PORTFOLIO MANAGER |
SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 16696 / September 12, 2000
SECURITIES AND EXCHANGE COMMISSION v. DEAN H. HARRIS, United States
District Court for the Northern District of Georgia, Civil Action No.
1 00-CV-2269
The Commission announced that on September 8, 2000, the Honorable
Julie E. Carnes entered a final judgment of permanent injunction
enjoining Dean H. Harris, a former registered representative with the
Atlanta office of a broker-dealer, from future violations of Section
17(a) of the Securities Act of 1933 and Section 10(b) of the
Securities Exchange Act of 1934, and Rule 10b-5 thereunder.
The Commission's complaint alleged that from April 1995 through August
1997, Harris acted with others to cause the misappropriation and
fraudulent transfer of over $13 million in funds and securities from
State Mutual Insurance Company (State Mutual), of Rome, Georgia,
through unauthorized securities transactions and unauthorized
transfers of money. Harris received kickbacks of approximately $1.3
million for his role in these unauthorized securities transactions and
unauthorized transfers of money. See Litigation Rel. No. 16672
This action is a continuation of the Commission's investigation
concerning the misappropriation of funds and securities of State
Mutual. The Commission has previously obtained a permanent injunction
and other relief against Robert J. Strauss, State Mutual's vice
president and portfolio manager. See Litigation Rel. No. 16378.
_________________________________________________________________
Modified 09/13/2000
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