LegalCaseDocs.com
shopping cart  
  |     
Search
 

 
New Visitors


 VeriSign Secure Site

 Get Adobe Reader

SEC v BARRY SMITH, et al Click to find out why . . .



Keywords & Phrases
CaseNo: LR-15087, CourtName: ENJOINED BY THE COURT FROM VIOLATIONS OF SECTIONS 5 AND 17(A) OF, Defendant: Barry Smith, Paul Iwankowski and Tri-Star Communications, Inc., Plaintiff: SEC, State: GA Georgia, UniqueCaseRef: SEC>LR-15087, Disgorgement, Act, Securities, Smith, Exchange, Wireless, Tri-star, Iwankowski, Pay, Partnership, Sworn Representations, Commission, Prejudgment, Tri-star Communications, Civil Penalties, Enjoining, Violating, Sale, General Partnership, Waived Payment, Paul Iwankowski, District, Permanent, Thereunder, Complaint, Amount, Proceeds, Wireless Cable Projects , ContentID: 120242971

Case Documents
1 1996-09-27 SEC LITIGATION RELEASE
[ see first page and extracted highlights below  ] ItemID: 106065
2 pages
TXT
Total Documents: 1 document , 2 pages
Price: $ 19.95


IVESLCD01 KGI0001
 
 

 Forgot your password?


1 . SEC LITIGATION RELEASE

EXTRACTED KEY WORDS
ACT
COURT
SECURITIES
SMITH
EXCHANGE
WIRELESS
TRI-STAR
IWANKOWSKI
PAY
PARTNERSHIP
SWORN REPRESENTATIONS
COMMISSION
PREJUDGMENT
TRI-STAR COMMUNICATIONS
CIVIL PENALTIES
ENJOINING
VIOLATING
SALE
GENERAL PARTNERSHIP
WAIVED PAYMENT
PAUL IWANKOWSKI
DISTRICT
PERMANENT
THEREUNDER
DEFENDANT
COMPLAINT
AMOUNT
PROCEEDS
WIRELESS CABLE PROJECTS
==========================================START OF PAGE 1======

         UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 15087 / September 27, 1996

SEC v. Telecom Marketing, Inc., Telecom Industries, Inc., Barry
Smith, Midas Media, Inc., Jeffrey Jolcover, Century Wireless
Communications Corp., Ron Schroeder, Tri-Star Communications,
Inc., Paul Iwankowski, Brixel, Inc., and John Field, IV (N.D.
Ga., Civil Action No. 1:95-CV-0804-ODE)

     The Securities and Exchange Commission announced today that
on September 17, 1996, the Honorable Orinda D. Evans, United
States District Judge for the Northern District of Georgia,
entered orders of permanent injunction enjoining Barry Smith
("Smith"), Paul Iwankowski ("Iwankowski") and Tri-Star
Communications, Inc. ("Tri-Star") from violating the anti-fraud
provisions of the Securities Act of 1933 ("Securities Act") and
the Securities Exchange Act of 1934 ("Exchange Act").  The Court
permanently enjoined Smith from violating Sections 5 and 17(a) of
the Securities Act, and Section 10(b) of the Exchange Act and
Rule 10b-5 thereunder.  Iwankowski and Tri-Star were each
enjoined by the Court from violations of Sections 5 and 17(a) of
the Securities Act, and Sections 15(a)(1) and 10(b) of the
Exchange Act and Rule 10b-5 thereunder.  Each defendant consented
to the relief without admitting or denying the allegations set
forth in a complaint filed by the Commission on March 28, 1995.

     The Court further ordered disgorgement of the ill-gotten
gains amassed by each of the three defendants along with
prejudgment interest thereon.  The Court ordered Smith to pay
disgorgement in the amount of $280,000 representing the proceeds
he received from the sale of interests in wireless cable
projects, and to disgorge all ownership interests held by Smith
in the Mobile Wireless Partners General Partnership and the
Wisconsin Wireless Partners General Partnership.  Based upon
sworn representations by Smith concerning his inability to pay
the entire disgorgement, the Court waived payment of all but
$10,800 of the disgorgement, along with any partnership interests
and prejudgment interest.  No civil penalties were imposed.

     Iwankowski was ordered to pay $73,326.12 representing the
proceeds he received from the sale of interests in wireless cable
projects.  Based upon sworn representations by Iwankowski
concerning his inability to pay the entire disgorgement, the
Court waived payment of all but $40,414.98 of the disgorgement
and prejudgment interest.  Civil penalties were not imposed by
SNIPPETS:
  • UNITED STATES SECURITIES AND EXCHANGE COMMISSION
  • SEC v. Telecom Marketing, Inc., Telecom Industries, Inc., Barry Smith, Midas Media, Inc.,
  • The Securities and Exchange Commission announced today that on September 17, 1996, the
  • The Court permanently enjoined Smith from violating Sections 5 and 17of the Securities Act,
  • Each defendant consented to the relief without admitting or denying the allegations set forth
  • The Court ordered Smith to pay disgorgement in the amount of $280,000 representing the
  • Based upon sworn representations by Smith concerning his inability to pay the entire
  • Civil penalties were not imposed by the Court.
  •    |