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1
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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
CONNECTICUT SECURITIES DISTRICT EXCHANGE COURT LITIGATION PAY STOCK EXCHANGE ACT EXCHANGE COMMISSION DOUGLAS CIVIL PENALTY SCHEME MANIPULATE MARKET MARCORP OFFICER VIOLATING CRIMINAL CHARGES MCCASKEY SUBSTANTIALLY UNFIT SERVE PUBLIC COMPANY BARRED MCCASKEY SERVING THEREUNDER PROBATION RELATED CRIMINAL CHARGES ATTORNEY PLEADED GUILTY |
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
LITIGATION RELEASE NO. 17520 / May 16, 2002
DOUGLAS G. McCASKEY ORDERED TO PAY $100,000 CIVIL PENALTY
98 civ. 6153 (SWK) (S.D.N.Y.)
00 cr. 219 (SRU) (D.CT.)
The Securities and Exchange Commission today announced that the U.S.
District Court for the Southern District of New York issued an order
on May 1, 2002 directing a Connecticut stock promoter, Douglas G.
McCaskey, immediately to pay a $100,000 civil penalty in connection
with a scheme to manipulate the market for Marcorp, Inc. stock during
1994. The Court previously found that McCaskey had committed
securities fraud in connection with the scheme, found McCaskey
substantially unfit to serve as an officer or director of a public
company, and barred McCaskey from serving as an officer or director
for a period of six years. The Court also permanently enjoined him
from violating Section 10(b) of the Securities Exchange Act of 1934
and Rule 10b-5 thereunder, and Section 17(a) of the Securities Act of
1933. See Litigation Release No. 17131 (September 18, 2001).
McCaskey was sentenced to five years probation and ordered to pay a
$30,000 fine on April 30, 2001 in the U.S. District Court for the
District of Connecticut in connection with related criminal charges
brought by the U.S. Attorney for the District of Connecticut. McCaskey
had, on October 13, 2000, pleaded guilty to criminal charges that he
violated Section 10(b) of the Exchange Act and Rule 10b-5 by
manipulating the market for Marcorp, Inc. stock from May to December
1994. See Litigation Release No. 17056 (July 2, 2001).
_________________________________________________________________
Modified 05/17/2002
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