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SEC v SHREVEPORT WIRELESS CABLE TELEVISION PARTNERSHIP, et al Click to find out why . . .



Keywords & Phrases
CaseNo: LR-17185, Defendant: Shreveport Wireless Cable Television Partnership, Complete Communications Corporation, The Estate of Joseph S. Steingold, Stuart Weingarden, Champion Communications Corporation, B.R. Cable Communications Corporation, Samuel Abrams, Wireless Cable Television of Shreveport Limited Liability Company, Plaintiff: SEC, State: WA Washington, UniqueCaseRef: SEC>LR-17185, Wireless, Securities, Steingold, Champion, Shreveport, Communications Corporation, Abrams, Judgement, Joseph, Wireless Cable Television, Cable Television Partnership, Limited Liability, Securities Act, Amount, Nationwide Sale, Exchange Commission, Admitting, Denying, Allegations, Entry, Prohibiting Future Violations, Pay Disgorgement, Judgment Prohibiting Future, Plus Pre-judgment, Waives Payment, Monies, Sworn Financial Statements, Amended Complaint, Alleges, Unregistered Securities , ContentID: 120246558

Case Documents
1 2001-10-12 SEC LITIGATION RELEASE
[ see first page and extracted highlights below  ] ItemID: 116024
2 pages
HTML
Total Documents: 1 document , 2 pages
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1 . SEC LITIGATION RELEASE

EXTRACTED KEY WORDS
SECURITIES
STEINGOLD
CHAMPION
SHREVEPORT
COMMUNICATIONS CORPORATION
ABRAMS
JUDGEMENT
JOSEPH
WIRELESS CABLE TELEVISION
CABLE TELEVISION PARTNERSHIP
LIMITED LIABILITY
SECURITIES ACT
AMOUNT
NATIONWIDE SALE
EXCHANGE COMMISSION
ADMITTING
DENYING
ALLEGATIONS
ENTRY
PROHIBITING FUTURE VIOLATIONS
PAY DISGORGEMENT
JUDGMENT PROHIBITING FUTURE
PLUS PRE-JUDGMENT
WAIVES PAYMENT
MONIES
SWORN FINANCIAL STATEMENTS
AMENDED COMPLAINT
ALLEGES
UNREGISTERED SECURITIES
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.

LITIGATION RELEASE NO. 17185 / October 12, 2001

   Securities and Exchange Commission v. Shreveport Wireless Cable
   Television Partnership, Complete Communications Corporation, The
   Estate of Joseph S. Steingold, Stuart Weingarden, Champion
   Communications Corporation, B.R. Cable Communications Corporation,
   Samuel Abrams, Wireless Cable Television of Shreveport Limited
   Liability Company, CA. No. 94-1781 (D.D.C. HHK/DAR)

             SEC SETTLES CASE AGAINST WIRELESS CABLE DEFENDANTS

   The Securities and Exchange Commission announced that on September 11,
   2001, the Honorable Henry H. Kennedy Jr., United States District Judge
   for the District of Columbia, entered Final Judgments against
   Shreveport Wireless Cable Television Partnership ("Shreveport"),
   Complete Communications Corporation ("Complete"), The Estate of Joseph
   S. Steingold ("Steingold"), Stuart Weingarden, Champion Communications
   Corporation ("Champion"), B.R. Cable Communications Corporation ("B.R.
   Cable"), Samuel Abrams, and Wireless Cable Television of Shreveport
   Limited Liability Company ("Wireless").

   Without admitting or denying the Commission's allegations, Steingold,
   Champion, B.R. Cable, Complete, and Wireless consented to the entry of
   a judgment that permanently enjoins Champion, B.R. Cable, Complete,
   and Wireless from violating Sections 5(a) and 5(c) of the Securities
   Act of 1933 ("Securities Act"). Under the judgment, Steingold,
   Champion, B.R. Cable, Complete, and Shreveport are jointly and
   severally liable for $24,737,830.78 in disgorgement and $16,589,573.39
   in prejudgment interest. In addition, Champion, B.R. Cable, Complete
   and Wireless are each required to pay a civil penalty in the amount of
   $100,000.

   Without admitting or denying the Commission's allegations, Weingarden
   also consented to the entry of a judgment prohibiting future
   violations of Sections 5(a) and 5(c) of the Securities Act. The
   judgment requires Weingarden to pay disgorgement in the amount of
   $447,337.88, plus pre-judgment interest of $261,354.66, but waives
   payment of such monies based on Weingarden's sworn financial
   statements.

   Without admitting or denying the Commission's allegations, Abrams also
   consented to the entry of a judgment prohibiting future violations of
   Sections 5(a) and 5(c) of the Securities Act. The judgment requires
   Abrams to pay disgorgement in the amount of $154,000, plus
   pre-judgment interest thereon in the amount of $93,619.72, but waives
SNIPPETS:
  • U.S. SECURITIES AND EXCHANGE COMMISSION WASHINGTON,
  • Securities and Exchange Commission v. Shreveport Wireless Cable Television Partnership,
  • Cable"), Samuel Abrams, and Wireless Cable Television of Shreveport Limited Liability Company.
  • Without admitting or denying the Commission's allegations, Steingold, Champion, B.R. Cable,
  • Without admitting or denying the Commission's allegations, Weingarden also consented to the
  • The judgment requires Weingarden to pay disgorgement in the amount of $447,337.88, plus
  • The judgment requires Abrams to pay disgorgement in the amount of $154,000, plus pre-judgment
  • The Commission's Amended Complaint, filed January 11, 1995, alleged the following that Joseph
  • The Amended Complaint more specifically alleges that Joseph S. Steingold, Weingarden, and thought the nationwide sale of 840 Shreveport Partnership units.
  • The securities involved purported to be general partnership units or limited liability units,
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