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SEC v ALEXANDER NAUJOKS AKA ALEXANDER P. THORN; EXECTREK, et al Click to find out why . . .



Keywords & Phrases
CaseNo: LR-18083, CourtCode: FED, CourtName: FEDERAL COURT ORDERS $2.1 MILLION DISGORGEMENT AND $120,000 PENALTIES, Defendant: Alexander Naujoks aka Alexander P. Thorn; Exectrek, Inc., a California corporation; ACSports.com, a Delaware corporation; and World Markets Group, Inc., a Delaware corporation, Plaintiff: SEC, State: CA California, UniqueCaseRef: SEC>LR-18083, Securities, Offering, Investors, Judgement, Thorn, Exchange Commission, Disgorgement, Penalties, Exectrek, Stock, Defendants Solicited Investors, United States, Securities Offering Fraud, Civil, District, California, Alexander, Fraudulent, Assets, Permanent Injunction, Act, Ordered Thorn, Pay, Finance, Performance History, Purported Products, Compaq, Oracle , ContentID: 120255573

Case Documents
1 2003-04-10 SEC LITIGATION RELEASE
[ see first page and extracted highlights below  ] ItemID: 132863
2 pages
HTML
Total Documents: 1 document , 2 pages
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1 . SEC LITIGATION RELEASE

EXTRACTED KEY WORDS
SECURITIES
DEFENDANTS
OFFERING
INVESTORS
JUDGEMENT
THORN
EXCHANGE COMMISSION
DISGORGEMENT
PENALTIES
EXECTREK
STOCK
DEFENDANTS SOLICITED INVESTORS
UNITED STATES
SECURITIES OFFERING FRAUD
CIVIL
DISTRICT
CALIFORNIA
ALEXANDER
FRAUDULENT
ASSETS
PERMANENT INJUNCTION
ACT
ORDERED THORN
PAY
FINANCE
PERFORMANCE HISTORY
PURPORTED PRODUCTS
COMPAQ
ORACLE
UNITED STATES SECURITIES AND EXCHANGE COMMISSION

LITIGATION RELEASE NO. 18083 / April 10, 2003

   FEDERAL COURT ORDERS $2.1 MILLION DISGORGEMENT AND $120,000 PENALTIES
   IN SECURITIES OFFERING FRAUD

   , Civil Action No. 02-01073-JFW (VBKx) (C.D. Cal.)

   The Securities and Exchange Commission announced today that on March
   25, 2003, the Honorable John F. Walters, United States District Judge
   for the Central District of California, entered a final judgment of
   disgorgement and penalties in a securities offering fraud case brought
   against Alexander Naujoks, aka Alexander P. Thorn, of Huntington
   Beach, California, and his companies, Exectrek, Inc., ACSports.com,
   and World Markets Group (collectively, "the companies").

   On February 5, 2002, the Commission filed its complaint against the
   defendants, seeking emergency relief to halt the ongoing fraudulent
   offering of stock in the companies. The Court entered a temporary
   restraining order that same day, and froze the defendants' assets. On
   September 23, 2002, Thorn and the companies consented to a judgment of
   permanent injunction prohibiting them from violating the securities
   registration and antifraud provisions of the federal securities laws,
   Sections 5(a), 5(c) and 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 entered the judgment of permanent injunction on
   September 26, 2002.

   The Court's March 25, 2003 judgment concludes the Commission's action
   against the defendants. The Court ordered Thorn, Exectrek and ACSports
   to pay disgorgement of $2.1 million plus prejudgment interest. The
   Court also ordered Thorn, the creator and chief officer of the
   companies, to pay a civil penalty of $120,000.

   In issuing its judgment, the Court found that the defendants solicited
   investors nationwide through cold-calls and personal solicitations to
   finance and operate the companies' purported online business
   operations. The Court concluded that defendants engaged in an
   unregistered stock offering, and that no exemption from registration
   applied to the defendants' offering. The Court also found that the
   defendants solicited investors to purchase stock in the companies
   through fraudulent misrepresentations, including that (1) the
   companies would be going public via an initial public offering in 30
   to 90 days when, in fact, none of the companies was ever close to a
   public offering; (2) the investment would triple in value immediately
   once the companies went public, even though the companies had minimal
   assets and no performance history in any of their purported products,
SNIPPETS:
  • UNITED STATES SECURITIES AND EXCHANGE COMMISSION
  • FEDERAL COURT ORDERS $2.1 MILLION DISGORGEMENT AND $120,000 PENALTIES IN SECURITIES OFFERING
  • The Securities and Exchange Commission announced today that on March 25, 2003, the Honorable
  • On February 5, 2002, the Commission filed its complaint against the defendants, seeking
  • The Court entered a temporary restraining order that same day, and froze the defendants'
  • On September 23, 2002, Thorn and the companies consented to a judgment of permanent
  • The Court entered the judgment of permanent injunction on September 26,
  • Exectrek and ACSports to pay disgorgement of $2.1 million plus prejudgment interest.
  • The Court also ordered Thorn, the creator and chief officer of the companies, to pay a civil
  • the Court found that the defendants solicited investors nationwide through cold-calls and
  • The Court also found that the defendants solicited investors to purchase stock in the ts, services, or financials; Compaq and Oracle had invested in Exectrek when, in fact, these
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