SECURITIES EXCHANGE ACT OF 1934
Release No. 49321 / February 26, 2004

Admin. Proc. File No. 3-11415


In the Matter of

CAMILO PEREIRA



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ORDER INSTITUTING ADMINISTRATIVE PROCEEDINGS PURSUANT TO SECTION 15(b) OF THE SECURITIES EXCHANGE ACT OF 1934, MAKING FINDINGS, AND IMPOSING REMEDIAL SANCTIONS

I.

The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 ("Exchange Act") against Camilo Pereira ("Pereira" or "Respondent").

II.

In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement (the "Offer") 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 herein, except as to the Commission's jurisdiction over him and the subject matter of these proceedings, and the findings contained in Section III.3 below, which are admitted, Respondent consents to the entry of this Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions ("Order"), as set forth below.

III.

On the basis of this Order and Respondent's Offer, the Commission finds that:

1. Pereira, age 43, is a resident of Miami, Florida. From July 1998 through April 1999 ("the relevant period"), Pereira was Chief Executive Officer of Quest Net Corporation ("Quest Net").

2. During the relevant period, Pereira participated in an offering of Quest Net stock, which is a penny stock.

3. On February 13, 2004, a final judgment was entered by consent against Pereira, permanently enjoining him from violating Section 10(b) of the Exchange Act, and Rule 10b-5 thereunder, in the civil action entitled Securities and Exchange Commission v. Camilo Pereira a/k/a Camilo Agasim-Pereira, Civil Action No. 02-22058-CIV-MORENO, in the United States District Court for the Southern District of Florida.

4. The Commission's complaint in the civil action alleged, among other things, that Pereira violated Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, in connection with the dissemination of false and misleading press releases and other information during the relevant period regarding the stock of Quest Net; the complaint further alleged that at the time of the dissemination of that information, Pereira profited from the sale of Quest Net stock through various nominee accounts.

IV.

In view of the foregoing, the Commission deems it appropriate and in the public interest to impose the sanctions specified in Respondent Pereira's Offer.

Accordingly, it is hereby ORDERED:

Pursuant to Section 15(b)(6) of the Exchange Act that Respondent be, and hereby is barred from participating in any offering of a penny stock, including: acting as a promoter, finder, consultant, agent or other person who engages in activities with a broker, dealer or issuer for purposes of the issuance or trading in any penny stock, or inducing or attempting to induce the purchase or sale of any penny stock.

By the Commission.

Jonathan G. Katz
Secretary