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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
SECURITIES CIVIL PENALTIES DISGORGEMENT ASSETS VIOLATING SOUTHERN DISTRICT COMMISSION UNITED STATES PLEDGING SELLING PAY FREEZING COURT MOTION TEXAS DAVID STUART ZUCKERMAN EXCHANGE AIRPLANE LOAN FOOT YACHT MOTION ALLEGES OBLIGATION ASSIGNING AMOUNT PLUS PREJUDGMENT ILL-GOTTEN GAINS FEDERAL SECURITIES LAWS PERMANENT INJUNCTION ENJOINING DISTRICT COURT JUDGE |
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 14788 / January 18, 1996
UNITED STATES OF AMERICA EX REL. SECURITIES AND EXCHANGE
COMMISSION v. DAVID STUART ZUCKERMAN (Southern District of Texas,
Houston Division) (Criminal Action No. H-96-03 , filed January 4,
1996)
On January 4, 1996, the Commission and the United States
Attorney for the Southern District of Texas filed a criminal
contempt motion against David Stuart Zuckerman for violating two
separate court orders freezing his assets. On September 14,
1992, the Honorable Sim Lake, U.S. District Court Judge, entered
an order of permanent injunction enjoining Zuckerman from
violations of the federal securities laws, freezing his assets
and determining that disgorgement and civil penalties were
appropriate. Zuckerman was ultimately ordered to disgorge
$1,121,000 of ill-gotten gains, plus prejudgment interest in the
amount of $128,220 and to pay $550,000 in civil penalties.
Zuckerman was prohibited from selling, assigning or pledging his
assets until he satisfied his obligation to pay disgorgement and
civil penalties. The motion alleges that Zuckerman violated the
Court's orders by pledging a 42 foot yacht as security for a
$170,000 loan, and selling his interest in an airplane.
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