UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Securities Exchange Act of 1934
Release No. 34-47401 / February 25, 2003
File No. 3-11044
ADMINISTRATIVE PROCEEDINGS INSTITUTED AGAINST EDUARDO VILLAR
The Securities and Exchange Commission (Commission) announced today that it has instituted public administrative proceedings against Eduardo Villar (Villar) of Alachua, Florida, pursuant to Section 15(b) of the Securities Exchange Act of 1934 (Exchange Act). The Order Instituting Public Administrative Proceedings Pursuant To Section 15(b) Of The Securities Exchange Act Of 1934 (Order) alleges that on December 28, 2000, the Commission filed a Complaint in the United States District Court for the Southern District of Florida, SEC v. Web Hosting Headquarters Partnership, et al., Civil Action No. 00-4975-CIV-HIGHSMITH/TURNOFF (S.D. Fla.), against Villar and others. The Complaint charged Villar and others with violating the securities registration, broker-dealer registration, and antifraud provisions of the federal securities laws, in connection with the unregistered offering of securities in the form of partnership units issued by Web Hosting Headquarters Partnership. The Order further alleges that on November 14, 2002, by Villar's consent, and without admitting or denying the allegations contained in the Commission's Complaint, the United States District Court for the Southern District of Florida entered a Judgment of Permanent Injunction and Other Relief, enjoining Villar from any future violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 (Securities Act), Sections 10(b) and 15(a)(1) of the Exchange Act, and Rule 10b-5, thereunder.
A hearing will be scheduled before an administrative law judge to determine whether the allegations contained in the Order are true, to provide Villar an opportunity to dispute these allegations, and to determine what, if any, remedial sanctions are appropriate in the public interest.