Joseph Contini, D/B/A Personal Portfolio Watch
In 1995, the SEC obtained a judgment against Joseph Contini, D/B/A Personal Portfolio Watch, ordering him to pay disgorgement and prejudgment interest totaling $1,253,772. According to the amended complaint, from November 1991 through at least July 1993, Contini misappropriated approximately $1 million in investment partnerships called Personal Portfolio Watch. The SEC alleged that Contini used most of this money either to pay his own personal or business expenses, or to pay withdrawals of principal or “profits” to other investors. A total of 58 investors were identified as having been victimized by Contini.
After paying sums in partial satisfaction of the judgment, then not paying for several years, Contini was subsequently held in contempt for his failure to comply with the judgment. Following the SEC’s efforts, and a Court order dated October 13, 2005, Contini was ordered to make $2,000 monthly payments in satisfaction of the judgment.
The SEC has recovered in excess of $214,000 that it plans to distribute to investors defrauded by Contini. The Court has issued an Order in which eligible claimants can file objections to the SEC’s Proposed Plan of Distribution and Proposed Appointment of David R. Kittay, Esq. to serve as Distribution Agent. If no one objects to the proposed Plan, the SEC anticipates the Court will enter an Order approving the plan and appointing David R. Kittay to issue checks to eligible claimants.
If you wish to receive a copy of the proposed Plan, wish to comment on or object to the proposed Plan, have not received a letter from the SEC and believe you are eligible to participate in the distribution, or if you have questions, you can contact:Bohdan S. Ozaruk
U.S. Securities and Exchange Commission
New York Regional Office
3 World Financial Center, Suite 400
New York, NY 10281-1022
Phone: (212) 336-0144
Fax: (212) 336-1324