U.S. SECURITIES & EXCHANGE COMMISSION
Litigation Release No. 17382 / February 26, 2002
Default Judgment Entered Against Lantern Investments, Ltd., Lipton
Holdings, Ltd., and Beaufort Holdings, Ltd.
Securities and Exchange Commission v. Rajiv Vohra, Sean T. Healey,
Lantern Investments, Ltd., Lipton Holdings, Ltd., and Beaufort
Holdings, Ltd., Civil Action No. 00-7286-Civ-Seitz/Garber (SDFL
February 12, 2002)
The Securities and Exchange Commission announced today that the
Honorable Patricia A. Seitz, United States District Judge for the
Southern District of Florida, entered a default judgment as to
defendants Lantern Investments, Ltd. ("Lantern"), Lipton Holdings,
Ltd. ("Lipton"), and Beaufort Holdings, Ltd. ("Beaufort"), permanently
enjoining them from further violations of Section 17(a) of the
Securities Act of 1933 and Section 10(b) of the Securities Exchange
Act of 1934 and Rule 10b-5 thereunder. The Court ordered Beaufort to
pay disgorgement in the amount of $61,903, plus prejudgment interest
of $14,124. The Court ordered Lantern to pay disgorgement in the
amount of $57,702, plus prejudgment interest of $12,300. The Court
also imposed civil penalties against Beaufort, Lantern and Lipton in
the amount of $100,000 each.
On September 5, 2000, the Commission alleged in its Complaint that
Rajiv Vohra ("Vohra"), Sean T. Healey, and three Bahamian companies,
Lantern, Lipton, and Beaufort used "wash sales" to create the
appearance of active trading in the stock of New Directions
Manufacturing, Inc., a small furniture manufacturing company. The
Complaint alleged that Vohra and Healey also arranged to have a false
and misleading research report published on a stock-picker web site,
on their own web site, and through unsolicited mass e-mails ("spam").
The research report falsely claimed that New Directions had
significantly expanded, that the author of the report was an
independent analyst, and that the purported analyst had issued a buy
recommendation. Vohra and Healey attempted to conceal their scheme by
conducting much of their activity through Canadian brokerage accounts
and the Bahamian companies.
For tips on how to avoid Internet "pump-and-dump" stock manipulation
schemes, visit . For more information about Internet fraud, visit . To
report suspicious activity involving possible Internet fraud, visit .
See also (September 6, 2000); (April 4, 2001); (April 25, 2001); and
(January 23, 2002).
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SNIPPETS:
U.S. SECURITIES & EXCHANGE COMMISSION
Default Judgment Entered Against Lantern Investments, Ltd., Lipton Holdings, Ltd., and
The Securities and Exchange Commission announced today that the Honorable Patricia A. Seitz,
The Court ordered Beaufort to pay disgorgement in the amount of $61,903, plus prejudgment
The Court also imposed civil penalties against Beaufort, Lantern and Lipton in the amount of
On September 5, 2000, the Commission alleged in its Complaint that Rajiv Vohra, Sean T.
The Complaint alleged that Vohra and Healey also arranged to have a false and misleading
The research report falsely claimed that New Directions had significantly expanded, that the
Vohra and Healey attempted to conceal their scheme by conducting much of their activity
For tips on how to avoid Internet "pump-and-dump" stock manipulation schemes,
To report suspicious activity involving possible Internet fraud,
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