SECURITIES AND EXCHANGE COMMISSION
Securities Act of 1933
Release No. 7865 / June 14, 2000
Securities Exchange Act of 1934
Release No. 42940 / June 14, 2000
Admin. Proceeding File No. 3-10230
In the Matter of Allen Z. Wolfson, Michael T. Grecco, John M. Black,
Jr., Spiro
Lazaretos, Robert Balsamo, Vladimir Carvallo, and Konstantinos Dino
Sonitis
The Securities and Exchange Commission today instituted public
administrative proceedings against the following persons
* Allen Z. Wolfson (Wolfson), age 54, is a resident of Salt Lake
City, Utah;
* Michael T. Grecco (Grecco), is a resident of Staten Island, New
York;
* John M. Black, Jr. (Black), age 42, is a resident of Jamesburg,
New Jersey;
* Spiro Lazaretos (Lazaretos), age 35, is a resident of Brooklyn,
New York;
* Robert Balsamo (Balsamo), age 27, is a resident of Northport, New
York;
* Vladimir Carvallo (Carvallo), age 33, is a resident of Astoria,
New York;
* Konstantinos Dino Sonitis (Sonitis), age 27, is a resident of
Brooklyn, New York.
In the Order instituting proceedings, the Division of Enforcement
alleges that, from early 1995 through September, Respondents engaged
in the following unlawful conduct
From in or about January 1999 through at least March 2000, Wolfson
manipulated the public trading markets for securities issued by
Beautymerchant.com (formerly known at ATR Industries, Inc. ("ATR");
Learners World, Inc. ("Learners"); Rollerball International, Inc.
("Rollerball"); Healthwatch, Inc. ("Healthwatch"); and HYTK
Industries, Inc. ("Hytk"). In each scheme, Wolfson acquired control
over a substantial amount of free-trading securities issued by the
public company and, thereafter, engaged in transactions to manipulate
the public market price for those securities, including paying bribes
to brokers, both directly and through promoters such as Grecco, in
exchange for the brokers causing their retail customers to purchase
the securities.
SNIPPETS:
SECURITIES AND EXCHANGE COMMISSION
In the Matter of Allen Z. Wolfson, Michael T. Grecco, John M.
Black, Jr., Spiro Lazaretos, Robert Balsamo, Vladimir Carvallo, and Konstantinos Dino Sonitis
The Securities and Exchange Commission today instituted public administrative proceedings
* Spiro Lazaretos, age 35, is a resident of Brooklyn, New York;
In each scheme, Wolfson acquired control over a substantial amount of free-trading securities
Each of the manipulation schemes involved the following common elements Wolfson obtained
the Wolfson Shares; and Wolfson sold the Wolfson Shares into the retail demand created by the
Grecco participated in each of the manipulation schemes involving ATR, Learners, Rollerball,
Grecco paid bribes to brokers to cause such brokers to cause their retail customers to
Respondents received at least $7 million in illicit profits from the manipulation schemes
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