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1
.
SEC ADMINISTRATIVE PROCEEDING
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EXTRACTED KEY WORDS
SPACEDEV SECURITIES BENSON EXCHANGE ACT COMMISSION MATERIAL FACTS VIOLATIONS THEREUNDER UNTRUE STATEMENTS COMMITTING COLORADO INVESTORS CEASE CAUSING VIOLATIONS FUTURE VIOLATIONS ORDER INSTITUTING PURSUANT FINDINGS CALIFORNIA DIRECTORS SALE PURCHASE OMISSIONS STATE MATERIAL FACTS MISLEADING TRANSACTIONS PRACTICES COURSES BUSINESS |
UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES ACT OF 1933
Release No. 7667 \ April 13, 1999
SECURITIES EXCHANGE ACT OF 1934
Release No. 41279 \ April 13, 1999
ADMINISTRATIVE PROCEEDING
File No. 3-9668
:
:
: ORDER MAKING FINDINGS
In the Matter of : AND IMPOSING A CEASE-AND-
SpaceDev, Inc. and : DESIST ORDER
James William Benson, :
:
Respondents. :
:
I.
On August 6, 1998 the Securities and Exchange Commission
("Commission") issued an Order Instituting Public Cease-and-
Desist Proceedings ("Order Instituting") pursuant to Section 8A
of the Securities Act of 1933 ("Securities Act") and Section 21C
of the Securities Exchange Act of 1934 ("Exchange Act") against
SpaceDev, Inc. ("SpaceDev") and James William Benson ("Mr.
Benson").
SpaceDev and Mr. Benson have each submitted an Offer of
Settlement ("Offers"), which the Commission has determined to
accept. Solely for the purpose of these proceedings and any
other proceedings brought by or on behalf of the Commission or in
which the Commission is a party, and without admitting or denying
the findings herein, except the jurisdiction of the Commission
over them and over the matters set forth herein, which they
admit, SpaceDev and Mr. Benson have consented to the entry of
this Order Making Findings and Imposing a Cease-and-Desist Order
("Order").
II.
On the basis of this Order and the Offers submitted by
SpaceDev and Mr. Benson, the Commission finds that:
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