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1
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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
COMMISSION COMPLAINT AMOUNT SECURITIES UNITED STATES CENTRAL DISTRICT INSIDER TRADING EXCHANGE COMMISSION LITIGATION ROGER CALIFORNIA PAY PERJURY CIVIL SALE UPJOHN CYOCTOL CHANTAL SHARES BROKERAGE HOLEWINSKI CONSULTANT CONFIDENTIAL INFORMATION SOLD BROKERAGE ACCOUNT CAYMAN ISLANDS DAVID BUSINESS RELATIONSHIP SELL TELEPHONE CONVERSATION |
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 15776 /June 9, 1998
United States v. Roger Wyatt, CR No. 97-1268 (C.D. Cal.)
The Securities and Exchange Commission announced that on June 8,
1998,
the Honorable Terry J. Hatter, Jr., United States District Judge for
the
Central District of California, ordered Roger D. Wyatt of Houston to
serve
a 15 month sentence and to pay a $20,000 fine for committing perjury in
an
insider trading investigation and civil suit brought by the Commission.
Wyatt had previously pled guilty to one count of perjury in response to
an
information filed by the United States Attorney for the Central
District of
California.
On November 24, 1997, the Commission obtained a Final Judgment
against
Wyatt enjoining him from future violations of the antifraud provisions
of
the federal securities laws and ordering him to pay disgorgement in
the
amount of $50,125.00, representing the amount of losses he and his
tippee
avoided from insider trading plus prejudgment interest in the amount
of
$8,705.21 and civil penalties in the amount of $209,205.21.
In August 1996, the Commission filed a Complaint against Wyatt,
alleging insider trading in connection with his February 1993 sale of
Chantal Pharmaceutical Corporation stock. The Complaint alleged that
the
sale took place prior to a public announcement by Chantal, on February
25,
1993, that The Upjohn Company had terminated a licensing agreement
with
Chantal because tests showed that Chantal's Cyoctol compound was not
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