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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
SECURITIES EXCHANGE COMMISSION JAMES SHERET DISTRICT PERMANENT FRAUDULENT PROFIT TOUTING TRADING STOCKS TRADED PUBLIC COMPANIES INTERNET ADMITTING DENYING ALLEGATIONS COMPLAINT PERMANENTLY ENJOINS RESTRAINS VIOLATING EXCHANGE ACT THEREUNDER ENGAGING FRAUDULENT ACTIVITY CONNECTION PURCHASE SALE PAY DISGORGEMENT AMOUNT PENALTY |
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 17351 / February 5, 2002
Securities and Exchange Commission v. James Sheret, Jr. and Glenn E.
Conley, Civil Action No. 00 Civ. 1411 LTS (D. SDNY)
The Commission announced that on September 27, 2001, the United States
District Court for the Southern District of New York entered a Final
Judgment of Permanent Injunction Against Defendant James Sheret, Jr.
Sheret engaged in multiple fraudulent and deceptive schemes to profit
from his touting and trading of the stocks of thinly traded public
companies over the Internet.
Sheret, without admitting or denying the allegations of the complaint,
consented to the order which permanently enjoins and restrains him
from violating Section 10(b) of the Exchange Act and Rule 10b-5
thereunder by engaging in fraudulent activity in connection with the
purchase or sale of any security. Sheret was also ordered to pay
disgorgement in the amount of $378,037 and a penalty of $110,000.
_________________________________________________________________
Modified 02/05/2002
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