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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
SECURITIES SIEMENS CIVIL COURT CROSS CARROLL DISTRICT UNITED STATES SECURITIES LITIGATION CROSS FINANCIAL SERVICES FOX BRUCE FRANKLIN MICHAEL COLELLO DOUGLAS MOTION CIVIL CONTEMPT DEFENDANT CARROLL CENTRAL DISTRICT CALIFORNIA FAILURE PAY COURT-ORDERED DISGORGEMENT PREJUDGMENT THEREON GRANTING SUMMARY JUDGMENT CIVIL ENFORCEMENT ACTION |
==========================================START OF PAGE 1======
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 14824 / February 26, 1996
SECURITIES AND EXCHANGE COMMISSION v. CROSS FINANCIAL SERVICES,
INC., OWEN R. FOX, CARROLL E. SIEMENS, BRUCE FRANKLIN, MICHAEL J.
COLELLO AND DOUGLAS S. CROSS, Civil Action No. 94-4228 RAP(Ex)
(C.D. Cal. June 23, 1994).
The Securities and Exchange Commission announced that on
February 16, 1996, it filed a motion for civil contempt
against Defendant Carroll E. Siemens ("Siemens") in the U.S.
District Court for the Central District of California based
upon Siemens' failure to pay Court-ordered disgorgement of
$3,973,479.09 and prejudgment interest thereon of
$452,150.89 awarded by the Court in granting summary
judgment to the Commission in its civil enforcement action
and as corrected by the Court on February 12, 1996. For
further information see LR-14135 and LR-14649.
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