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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
COMMISSION DEFENDANTS NICHI WISE CHOICE EXCHANGE COMMISSION AGUNLOYE ACCOUNT IPO STRATEGIC RISK MANAGEMENT INVESTORS UNITED STATES WISE CHOICE DISCOUNT CHOICE DISCOUNT BROKERAGE RALPH ANTEBY BRIAN WALFISH RELIEF DEFENDANT DISTRICT ENJOINS VIOLATING PROVISIONS ALLEGES STOCK MONEY ESCROW ACCOUNT FUNDS ACT DISGORGE PAY CIVIL PENALTIES |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 15740 / May 14, 1998
SECURITIES AND EXCHANGE COMMISSION V. NICHI CAPITAL, LTD., OLAWANDE A.
AGUNLOYE, WISE CHOICE DISCOUNT BROKERAGE, INC., RALPH ANTEBY, AND
BRIAN
WALFISH, AND STRATEGIC RISK MANAGEMENT AS RELIEF DEFENDANT, 98 Civ.
2218
(CSH) (S.D.N.Y)
The Securities and Exchange Commission ("Commission") announced
today
that, on May 12, 1998, the Honorable Charles S. Haight, Jr., Senior
Judge
of the United States District Court for the Southern District of New
York
issued an order that, among other things: (1) preliminarily enjoins
Nichi
Capital, Ltd. ("Nichi"), Wise Choice Discount Brokerage, Inc. ("Wise
Choice"), and Nichi's President, Oluwande A. Agunloye ("Agunloye"), and
two
registered representatives of Wise Choice, Ralph Anteby and Brian
Walfish
(collectively the "Defendants") from violating the antifraud provisions
and
registration provisions of the federal securities laws; (2) continues
the
previously ordered freeze of the assets of Agunloye, Wise Choice and
Nichi;
and (3) requires each of the Defendants to provide an accounting.
In its Complaint, filed March 27, 1998, the Commission alleges
that
since October 1997, the defendants have induced over $200,000 in
investments in Nichi securities by misrepresenting to investors that an
IPO
of Nichi stock was about to take place, that their shares would rise
greatly in value after the company went public, and that their money
would
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