UNITED STATES OF AMERICA
SECURITIES AND EXCHANGE COMMISSION
Securities Exchange Act of 1934
Release No. 50309 / September 2, 2004
Admin. Proc. File No. 3-11612
In the Matter of Steven Bocchino and Sharon Harosh
On September 2, 2004, the Commission instituted administrative proceedings against Steven Bocchino and Sharon Harosh. The Order Instituting Proceedings (Order) alleges that, during the relevant period, Bocchino was employed as a registered representative of Raike Financial Group and that both Bocchino and Harosh participated in penny stock offerings. Harosh was also associated with Goldman Lender Co. Holdings and Blackwell Co. both of which operated as unregistered broker-dealers.
According to the Order, on December 8, 2002 and July 15, 2002, respectively Bocchino and Harosh were permanently enjoined by the United States District Court for the Southern District of New York from violating the broker-dealer registration and antifraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The complaint in the civil injunctive action alleged that Bocchino and Harosh participated in fraudulent offerings through several phony private placements, including offers of stock of Goldman Lender Co. Holdings, Traderz Associates Holding Inc., and Blackwell Co.
In May 2002, Harosh was convicted of criminal charges arising out of the same conduct that gave rise to allegations against him in the civil injunctive action. In particular, Harosh was convicted, based on his guilty plea, of securities fraud and conspiracy to commit securities fraud and wire fraud, money laundering and conspiracy to commit money laundering.
A hearing will be scheduled before an administrative law judge to determine whether the allegations contained in the Order are true, to provide Bocchino and Harosh an opportunity to dispute these allegations, and to determine what remedial sanctions, if any, are appropriate and in the public interest. The Commission directed that the Administrative Law Judge issue an initial decision no later than 210 days from the date of service of the Order, pursuant to Rule 360(a)(2) of the Commission=s Rules of Practice.
Jonathan G. Katz
See also the Order in this matter