UNITED STATES OF AMERICA
In the Matter of
ORDER INSTITUTING A PUBLIC PROCEEDING
The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest that a proceeding be instituted pursuant to Section 15(b)(6) of the Securities Exchange Act of 1934 ("Exchange Act") with respect to Dominic Roelandt ("Roelandt").
In anticipation of the institution of these proceedings, Roelandt has submitted to the Commission an Offer of Settlement which the Commission has determined to accept. Solely for the purpose of these proceedings and any other proceedings brought by or on behalf of the Commission, or to which the Commission is a party and without admitting or denying the findings, except the jurisdiction of the Commission over him and over the matters set forth herein, and the facts contained in paragraphs III(B) and (C) below, which are admitted, Roelandt consents to the entry of this Order Instituting a Public Proceeding Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings and Imposing Penny Stock Bar ("Order").
Accordingly, IT IS ORDERED that a proceeding pursuant to Section 15(b)(6) of the Exchange Act is hereby instituted.
On the basis of this Order and the Offer of Settlement submitted by Roelandt, the Commission finds1 that:
A. Dominic Roelandt controlled a free Internet newsletter called Coldstocks;
B. On ____________, 2000, in Securities and Exchange Commission v. Dominic Roelandt, et al., (Civil No. `00-600-PHX-EHC) (D. Ariz.), the United States District Court for the District of Arizona entered a final judgment permanently enjoining Respondent from violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder; and
C. The Commission alleged in Securities and Exchange Commission v. Dominic Roelandt, et al., that from at least June 1999 through March 17, 2000, Respondent Roelandt falsely touted the stock of at least 23 microcap companies. The touts were made principally in e-mail messages disseminated by Coldstocks. The complaint also alleged that Roelandt made false or misleading statements concerning: (1) the purported "track records" of Coldstocks' past selections; and (2) his trading intentions with regard to some of the touted stocks.
In view of the foregoing, it is in the public interest to impose the sanctions specified in the Offer of Settlement.
Accordingly, IT IS ORDERED THAT Roelandt be and hereby is barred from participating in any offering of penny stock.
By the Commission.
Jonathan G. Katz
|1||The findings herein are made pursuant to Dominic Roelandt's offer and are not binding on any other person or entity named as a respondent in this or any other proceeding.|
|Home | Previous Page||