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1
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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
ATRATECH SECURITIES EXCHANGE JUDGEMENT ACT EXCHANGE COMMISSION ANTHONY GURINO CONTROL UNITED STATES PATRICK BORELLO DISTRICT VIOLATING PROFITS CONCEALING CONTRACTS PRESIDENT DISCLOSE OBSTRUCTION JUSTICE ATRATECH BID SIGNED PUBLIC FILINGS OMITTED MATERIAL INFORMATION ACCOUNTANTS CONNECTION AUDIT FINANCIAL STATEMENTS BORELLO SOLD ATRATECH STOCK REALIZING PROFITS |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
LITIGATION RELEASE NO. 15409 / July 9, 1997
SECURITIES AND EXCHANGE COMMISSION v. ATRATECH, INC., ANTHONY GURINO,
VINCENT SORENA, PATRICK BORELLO, AUGUSTO AUFIERO, STANLEY KAPLAN,
FRANCIS
J. O'REILLY, AND RAYMOND STANKEY, 94 Civ. 6016 (LMM) (S.D.N.Y.)
The Securities and Exchange Commission announced that on July 3,
1997,
the United States District Court for the Southern District of New
York
entered a Final Judgment of Permanent Injunctive and Other Relief
against
Patrick Borello. The Final Judgment is based upon the Court's May 28,
1997
order granting the Commission's motion for summary judgment against
Borello. The Final Judgment enjoins Borello from violating the
antifraud
and reporting provisions of the federal securities laws and from
making
false and misleading statements concerning any public company to its
auditors. In addition, the Final Judgment orders Borello to disgorge
$102,119 in profits and to pay $54,192.04 in prejudgment interest and
a
civil penalty of $50,000. The Final Judgment also bars Borello from
acting
as an officer or director of a public company.
Between 1989 and at least 1992, Borello and others engaged in a
scheme
to conceal that Atratech, Inc., a plumbing and heating company, was
secretly controlled by Anthony Gurino ("Gurino"). Gurino had been
barred
from bidding on public works contracts because of his failure to
disclose
that he had been indicted for obstruction of justice. By concealing
Gurino's association with the company, Atratech bid for and won
contracts
on public works projects that it was ineligible to participate in.
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