Securities and Exchange Commission
Washington, D.C.
Securities Act of 1933
Release No. 8299 / October 2, 2003
Securities Exchange Act of 1934
Release No 48589 / October 2, 2003
Administrative Proceeding
File No. 3-11293
In the Matter of Rubin Investment Group, Inc., et al.
The Securities and Exchange Commission today instituted public
administrative and cease-and-desist proceedings pursuant to Section 8A
of the Securities Act of 1933 ("Securities Act") and Sections 15(b)
and 21C of the Securities Exchange Act of 1934 ("Exchange Act"),
against
* Rubin Investment Group, Inc. ("RIG"), a California corporation
with offices in New York, NY, Los Angeles, CA, and Lake Helen, FL.
RIG holds itself out as an investment bank.
* Scott Halperin ("Halperin"), age 41, a resident of Manalapan, New
Jersey. He is Chairman of the Board and Chief Executive Officer of
The Classica Group, Inc. ("Classica"), and the former Chairman of
the Board for "stereoscape.com, inc." which was the predecessor
company to Marx Toys and Entertainment Corp. ("MRXT").
* Daniel Rubin ("Rubin"), age 31, a resident of Lake Helen, Florida.
Rubin is president of RIG.
* Andrew Saksa ("Saksa"), age 37, a resident of Lake Helen, Florida.
Saksa is an employee of RIG.
* Robert LoMonaco ("LoMonaco"), age 56, a resident of Monmouth
Beach, New Jersey. He was appointed Chief Executive Officer of
MRXT on or about September 11, 2003.
In the Order Instituting Proceedings ("Order"), the Division of
Enforcement alleges that RIG, Halperin, Rubin, Saksa, and LoMonaco
(collectively "the Respondents") engaged in the following unlawful
conduct
From in or about August 2003 through the present, Respondents have
engaged in fraudulent and manipulative practices to inflate
artificially the demand for, and the share price of, Classica and
MRXT, two penny stocks. The respondents have engaged in this
SNIPPETS:
Securities and Exchange Commission
In the Matter of Rubin Investment Group, Inc., et al.
The Securities and Exchange Commission today instituted public administrative and
RIG holds itself out as an investment bank.
* Scott Halperin, age 41, a resident of Manalapan, New Jersey.
Saksa is an employee of RIG.
In the Order Instituting Proceedings, the Division of Enforcement alleges that RIG, Halperin,
From in or about August 2003 through the present, Respondents have engaged in fraudulent and
As part of this conduct, Respondents Halperin, RIG, Rubin, and Saksa schemed to manipulate
On August 29, 2003, Classica, through Halperin, entered into a purported "merger and
Halperin's transfer of the 1.8 million shares from Classica to RIG was effected pursuant to a
The Form S-8 purported to register shares issued pursuant to Classica's 2002 Incentive and
The Division of Enforcement alleges that Classica's registration of the 1.8 million shares on
The Order further alleges that Respondents RIG, Halperin, Rubin and Saksa willfully violated,
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