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U.S. Securities and Exchange Commission

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

Securities Exchange Act of 1934
Release No. 50750 / November 29, 2004

Admin. Proc. File No. 3-11693


In the Matter of

JOSEPH L. LENTS, BRIAN E. BAGINSKI, and ANTHONY V. YONADI,



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ORDER MAKING FINDINGS AND IMPOSING REMEDIAL SANCTIONS PURSUANT TO SECTION 15(b) OF THE SECURITIES EXCHANGE ACT OF 1934 AS TO ANTHONY V. YONADI

I.

On September 30, 2004, the Securities and Exchange Commission (Commission) instituted public administrative proceedings against Joseph L. Lents ("Lents"), Brian E. Baginski ("Baginski"), and Anthony V. Yonadi ("Yonadi" or "Respondent") pursuant to Section 15(b) of the Securities Exchange Act of 1934 ("Exchange Act") [15 U.S.C. 78o(b)].

II.

Respondent Yonadi has submitted an Offer of Settlement ("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 in Section III.E below, which are admitted, Respondent Yonadi consents to the entry of this Order Making Findings and Imposing Remedial Sanctions Pursuant to Section 15(b) of the Securities Exchange Act of 1934 as to Anthony V. Yonadi ("Order"), as set forth below.

III.

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

A. Yonadi, age 50, is a resident of Boca Raton, Florida. He is a former registered representative with various brokerage firms.

B. Yonadi participated in an offering of Investco, Inc. ("Investco") stock, which is a penny stock.

C. On May 20, 2002, the Commission filed a Complaint in the United States District Court for the Southern District of Florida (Court), captioned U.S. Securities and Exchange Commission v. Investco, Inc., et al., Case No. 02-80466-Civ. Lents, Baginski, and Yonadi were named as defendants in the Complaint.

D. The Complaint alleged that from at least November 2001 to April 29, 2002, Lents devised and Lents, Baginski and Yonadi, among others, carried out a "pump and dump" scheme to manipulate the price of Investco's common stock. According to the Complaint, Lents caused Investco to issue a series of false and misleading press releases to create the illusion that Investco owned millions of dollars in assets and was the subject of a lucrative tender offer. In addition, the Complaint alleged that Lents distributed shares of Investco's stock to Baginski and others, and that Baginski and Yonadi contributed to the manipulation by coordinating buy and sell orders to liquidate Baginski's position and to simulate increased demand for Investco's stock. The Complaint further alleged that Lents, Baginski and Yonadi sold shares of Investco's stock that were not properly registered and for which no exemption applied. Based on these allegations, the Complaint alleged that Lents violated Sections 5 and 17(a) of the Securities Act of 1933 (Securities Act), Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and that Baginski and Yonadi violated Section 5 of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.

E. On March 12, 2003, the Court entered an order permanently enjoining Yonadi from violating Section 5 of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. In a written consent, Yonadi agreed to the entry of the permanent injunction without admitting or denying the allegations of the Complaint.

IV.

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

Accordingly, it is hereby ORDERED:

Pursuant to Section 15(b)(6) of the Exchange Act, that Respondent Yonadi 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.

For the Commission, by its Secretary, pursuant to delegated authority.

Jonathan G. Katz
Secretary


http://www.sec.gov/litigation/admin/34-50750.htm


Modified: 11/30/2004