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SEC v JASON R. ROSENTHAL Click to find out why . . .



Keywords & Phrases
CaseNo: LR-16346, Defendant: Jason R. Rosenthal, Plaintiff: SEC, State: FL Florida, UniqueCaseRef: SEC>LR-16346, Securities, Investors, Commission, Capitalists, Judgement, Exchange Commission, Violating, Registration Provisions, Internet, Solicitations, Broker-dealer Registration, Civil, Entry, Consent, Charges, Antifraud, Federal Securities Laws, Offering, Unregistered Securities, Complaint, Purchase, Venture Capitalists, Act, Disgorgement, Thereon, Payment, Civil Monetary Penalty, Admit, Deny Basis , ContentID: 120241764

Case Documents
1 1999-11-08 SEC LITIGATION RELEASE
[ see first page and extracted highlights below  ] ItemID: 104857
2 pages
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Total Documents: 1 document , 2 pages
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1 . SEC LITIGATION RELEASE

EXTRACTED KEY WORDS
INVESTORS
COMMISSION
CAPITALISTS
EXCHANGE COMMISSION
VIOLATING
REGISTRATION PROVISIONS
INTERNET
SOLICITATIONS
BROKER-DEALER REGISTRATION
CIVIL
ENTRY
JUDGEMENT
CONSENT
CHARGES
ANTIFRAUD
FEDERAL SECURITIES LAWS
OFFERING
UNREGISTERED SECURITIES
COMPLAINT
PURCHASE
VENTURE CAPITALISTS
ACT
DISGORGEMENT
THEREON
PAYMENT
CIVIL MONETARY PENALTY
JUDGEMENT
ADMIT
DENY BASIS
   U.S. SECURITIES AND EXCHANGE COMMISSION

   Litigation Release No. 16346 / November 1, 1999

   Civil Action No. 99-CV-11010 (RWZ) (D. Mass.)

   The Securities and Exchange Commission today announced the entry of a
   final judgment by consent against Jason R. Rosenthal based upon
   charges that he violated the antifraud and registration provisions of
   the federal securities laws in connection with an offering of
   unregistered securities on the Internet. The Commission's complaint,
   filed on May 10, 1999, alleged that beginning in November 1998,
   Rosenthal used the Internet to solicit investors to purchase
   unregistered securities in entities formed to purchase and operate
   franchises to sell and support software for operating commercial web
   sites. The securities were issued by a company known as VentureLink
   Capital Corporation or one of its affiliates. According to the
   complaint, Rosenthal's Internet solicitations fraudulently projected
   investment returns of 500% to 2000% within two years and
   misrepresented the investment as an opportunity to invest in a company
   that had obtained millions of dollars of start-up capital from the
   same venture capitalists who had provided the initial capital for
   Microsoft and Intel. Further, Rosenthal allegedly misled investors to
   believe that the entities in which they would be investing were
   planning an initial public offering that would generate substantial
   profits for investors. The Commission further alleged that Rosenthal's
   solicitations yielded investments from three investors, totaling
   $50,000, and commissions to Rosenthal in the amount of $5,000.
   Rosenthal was not registered with the Commission as a broker-dealer,
   nor was he associated with any broker-dealer registered with the
   Commission. Rosenthal resides in Dunedin, Florida.

   The Commission charged Rosenthal with violating the general antifraud,
   securities registration and broker-dealer registration provisions of
   the federal securities laws - i.e., Sections 5(a), 5(c) and 17(a) of
   the Securities Act of 1933 and Sections 10(b) and 15(a) of the
   Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The final
   judgment, which was entered on October 22, 1999, permanently enjoins
   Rosenthal from violating those provisions in the future and holds
   Rosenthal liable for disgorgement of his commissions plus prejudgment
   interest thereon. However, payment of disgorgement was waived, and no
   civil monetary penalty was imposed, based upon Rosenthal's
   demonstrated financial inability to pay. Rosenthal consented to the
   entry of the final judgement on a neither admit nor deny basis.

   For further information, please see (May 11, 1999).
     _________________________________________________________________

SNIPPETS:
  • The Securities and Exchange Commission today announced the entry of a final judgment by
  • The Commission's complaint, filed on May 10, 1999, alleged that beginning in November 1998,
  • Rosenthal's Internet solicitations fraudulently projected investment returns of 500% to 2000%
  • Rosenthal allegedly misled investors to believe that the entities in which they would be
  • The Commission charged Rosenthal with violating the general antifraud, securities
  • The final judgment, which was entered on October 22, 1999, permanently enjoins Rosenthal from
  • Rosenthal liable for disgorgement of his commissions plus prejudgment interest thereon.
  • However, payment of disgorgement was waived, and no civil monetary penalty was imposed, based
  • Rosenthal consented to the entry of the final judgement on a neither admit nor deny basis.
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