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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
ROY DEFENDANTS UNITED STATES EXCHANGE COMMISSION GLOBAL MARKETING COURT REQUIRING INVESTORS FUNDS SECURITIES KENNETH ROY WEARE WEAVER GLOBAL MARKETING CORPORATION CIVIL CONTEMPT ASSET COLORADO ACCOUNTS KANE UNITED STATES DISTRICT RESIDENT LAKEWOOD FAILING ORDERS FREEZING INTERNET STOCK FRAUD OFFSHORE ACCOUNTS PAY DISGORGEMENT INVESTORS PLUS PREJUDGMENT ARREST WARRANT |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
LITIGATION RELEASE NO. 17811 /October 29, 2002
SECURITIES AND EXCHANGE COMMISSION v. KENNETH ROY WEARE, A/K/A ROY
WEAVER, J&K GLOBAL MARKETING CORPORATION, AND AAA-AUCTION.COM, INC.,
Civil Action No. 01-K-0645 (D. Colo.)
COURT HOLDS WEARE AND J&K GLOBAL MARKETING IN CONTEMPT FOR VIOLATION
OF ASSET FREEZE
The Commission announced that on October 29, 2002 the Honorable John
L. Kane, Jr., of the United States District Court in Colorado found
Kenneth Roy Weare, also known as Roy Weaver, a resident of Lakewood,
Colorado, and his company, J&K Global Marketing Corporation in civil
contempt for failing to comply with the court's earlier orders
freezing the defendants' assets obtained from an Internet stock fraud,
requiring the defendants to return to the United States investors'
funds held in offshore accounts, requiring the defendants to prepare
an accounting of funds raised from investors, and ordering the
defendants to pay disgorgement of over $6.2 million in funds illegally
obtained from investors plus prejudgment interest of $486,848. The
Court required Weare and J&K to comply with the court's orders by
November 1, 2002 or an arrest warrant will be issued for Weare and a
$500 daily fine will be imposed on J&K until they comply with the
Court's orders.
_________________________________________________________________
Modified 10/30/2002
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