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SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
ADMINISTRATIVE PROCEEDINGS PLATINUM EQUITIES BLACKHEATH KENT HOLDINGS KENNY FORTI EXCHANGE COMMISSION ACT JOHN PASQUALE FORTI BROKER-DEALER ALLEGES STOCK ENFORCEMENT ALLEGES PRINCIPALS PARENT COMPANY SCHEME RECOMMEND PURCHASE CUSTOMERS DISCLOSING NOMINEE ACCOUNT BROKERAGE FIRM ADMINISTRATIVE LAW JUDGE ALLEGATIONS SANCTION PROTECTION INVESTORS |
U.S. SECURITIES AND EXCHANGE COMMISSION
SECURITIES ACT OF 1933
Release No. 7886 / September 6, 2000
SECURITIES EXCHANGE ACT OF 1934
Release No. 43247 / September 6, 2000
Administrative Proceeding
File No. 3-10277
ADMINISTRATIVE PROCEEDINGS INSTITUTED AGAINST PLATINUM EQUITIES, INC.,
BLACKHEATH & KENT HOLDINGS, INC., JOHN J. KENNY, AND PASQUALE FORTI
The Securities and Exchange Commission today instituted public
administrative proceedings against Platinum Equities, Inc., a
registered broker-dealer in New York City, Blackheath & Kent Holdings,
Inc., John J. Kenny, and Pasquale Forti. In the order the Commission's
Division of Enforcement alleges that Platinum Equities, its two
principals, Kenny and Forti, and its parent company, Blackheath & Kent
Holdings, engaged in a scheme to recommend and promote the purchase of
certain stock to customers of Platinum Equities without disclosing
that the stock was owned by Kenny and Forti under the nominee name of
Blackheath & Kent Holdings. The Division further alleges that the
securities were held in an account at another brokerage firm.
A hearing will be held before an administrative law judge to determine
if these allegations are true and, if so, what, if any, sanction is
appropriate in the public interest and for the protection of
investors.
_________________________________________________________________
Modified 09/06/2000
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