Litigation Release No.17399 / March 6, 2002
SEC v. Hawa Corporation, et al Case No. 01-8220-CIV- Hurley (S.D.
Fla.)(filed March 15, 2001)
SEC v. William J. Tishman, et al. Case No. 01-6952-CIV-Dimitrouleas
(S.D. Fla.) (filed June 5, 2001)
SEC SETTLES CASES AGAINST ROBERT E. DUKE,
SAM SARA INVESTMENTS, INC. AND SHAVA CORPORATION
The Securities and Exchange Commission (Commission) announced today
that it settled the civil injunctive action against Defendant Robert
E. Duke, and Relief Defendants Sam Sara Investments, Inc. (Sam Sara)
and Shava Corporation (Shava), in the matter of . Duke, Sam Sara and
Shava, without admitting or denying the allegations in the
Commission's Complaint, consented to the entry of a Final Judgment of
Permanent Injunction and Other Relief as to Defendant Robert E. Duke
and Final Judgment of Disgorgement as to Relief Defendants Sam Sara
Investments, Inc. and Shava Corporation (Final Judgment), which the
Court entered on February 20, 2002. The Final Judgment permanently
enjoins Duke from violating Sections 5(a), 5(c) and 17(a) of the
Securities Act of 1933 (Securities Act), Section 10(b) and 15(a)(1) of
the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5,
thereunder. The Final Judgment also orders Duke, Sam Sara, and Shava
to pay disgorgement in the amount of $274,295, but waives payment of
all but $225,000 (to be paid to the Court appointed Receiver), and
does not impose a civil money penalty, based on their sworn
representations in their Statements of Financial Condition submitted
to the Commission.
According to the Commission's Complaint, from at least December 1999
to March 2001, Hawa Corporation (Hawa), Hawa Communications, Inc.
(HawaCom), and Hawa Med, Inc. (Hawa Med) raised approximately $6
million from the sale of shares to investors throughout the U.S., most
of whom are doctors. The Complaint also alleged that Duke, among
others, represented to investors, orally, through marketing brochures,
and in an Internet website, that Hawa, HawaCom, and Hawa Med had
combined assets of $160 million attributable to the companies'
acquisitions of three "well-established telecommunications and
technology firms" based in South America. The Commission's Complaint
further alleged that, in reality, neither Hawa, HawaCom, nor Hawa Med
actually owned any interest in the South American companies. (SEC v.
Hawa Corporation, et al., Case No. 01-8220-CIV- Hurley (S.D.
Fla.)(filed March 15, 2001)).
The Commission also settled the civil injunctive action against
Defendants Duke and Sam Sara, in the matter of . Duke and Sam Sara
SNIPPETS:
SEC v. Hawa Corporation, et al Case No. 01-8220-CIV- Hurley (S.D.
SEC v. William J. Tishman,
SEC SETTLES CASES AGAINST ROBERT E. DUKE,
The Securities and Exchange Commission announced today that it settled the civil injunctive
Duke, Sam Sara and Shava, without admitting or denying the allegations in the Commission's
The Final Judgment permanently enjoins Duke from violating Sections 5, 5and 17of the
The Final Judgment also orders Duke, Sam Sara, and Shava to pay disgorgement in the amount of
According to the Commission's Complaint, from at least December 1999 to March 2001, Hawa
The Complaint also alleged that Duke, among others, represented to investors, orally, through
The Final Judgment further orders that no civil money is being imposed based upon the
In the Tishman Complaint, the SEC alleged that, between 1996 and mid-1999, Medical Research
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