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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
LITIGATION RELEASE NO. 15119 / October 11, 1996
SECURITIES AND EXCHANGE COMMISSION v. ENVIROMENT HOLDINGS, INC.,
et al., 3:95-CV-2192-H, USDC, ND/TX (Dallas Division)
The Securities and Exchange Commission ("Commission")
announced that judgments of permanent injunction and other
equitable relief were entered in United States District Court in
Dallas, Texas, against Frank P. Zitkevitz ("Zitkevitz") and
Charles S. Christopher ("Christopher") on October 3, 1996 and
October 4, 1996, respectively. Zitkevitz and Christopher
consented to the entry of the judgments without admitting or
denying the allegations in the Commission's complaint that they
violated Sections 5(a), 5(c), and 17(a) of the Securities Act of
1933, and Sections 9(a) and 10(b) of the Securities Exchange Act
of 1934, and Rules 10b-5 and 10b-6 thereunder, in a scheme to
fraudulently promote, distribute, and manipulate the market for
the securities of EnvirOment Holdings, Inc., a "penny stock"
company based in Dallas.
The Court also ordered Christopher to pay disgorgement in
the amount of $1,500,000, and Zitkevitz to pay disgorgement in
the amount of $237,711, plus prejudgment interest of $100,252.88.
Christopher's disgorgement amount was waived based on his
demonstrated financial inability to pay, and the Court did not
impose a civil money penalty based on his poor financial
condition. Zitkevitz filed for protection under Chapter 7 of the
United States Bankruptcy Code, and the Commission will seek to
enforce the disgorgement judgment in accordance with the
applicable provisions of the Bankruptcy Code.
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JUDGMENTS ENTERED AGAINST CHARLES S. CHRISTOPHER AND FRANK P.
ZITKEVITZ
The Commission announced that judgments of permanent
injunction and other equitable relief were entered in United
States District Court in Dallas, Texas, against Frank P.
Zitkevitz (Zitkevitz) and Charles S. Christopher
(Christopher) on October 3, 1996 and October 4, 1996,
respectively. Zitkevitz and Christopher consented to the
entry of the judgments without admitting or denying the
allegations in the Commission's complaint that they violated
Sections 5(a), 5(c), and 17(a) of the Securities Act of
SNIPPETS:
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION v. ENVIROMENT HOLDINGS, INC., et al., 3:95-CV-2192-H,
The Securities and Exchange Commission announced that judgments of permanent injunction and
Zitkevitz and Christopher consented to the entry of the judgments without admitting or
The Court also ordered Christopher to pay disgorgement in the amount of $1,500,000, and
Christopher's disgorgement amount was waived based on his demonstrated financial inability to
Zitkevitz filed for protection under Chapter 7 of the United States Bankruptcy Code, and the
JUDGMENTS ENTERED AGAINST CHARLES S. CHRISTOPHER AND FRANK P. ZITKEVITZ
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