UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION

SECURITIES ACT OF 1933
Rel. No. 8440 / July 13, 2004

Admin. Proc. File No. 3-11310

ORDER GRANTING RESPONDENTS' UNOPPOSED MOTION TO MODIFY ORDER TO SCHEDULE DISGORGEMENT

On May 11, 2004, an administrative law judge found that Respondent Harold Engel, Jr. violated Sections 5(a) and 5(c) of the Securities Act of 1933 when he offered and sold shares of stock to the public without a registration statement.¹ On June 10, 2004, the Commission granted finality to the Initial Decision in this proceeding as to Respondent Engel.² Subsequently, we learned of Respondent's Unopposed Motion to Modify Order to Schedule Disgorgement. The sole modification that Respondent seeks to the Initial Decision is a schedule for Respondent to make the disgorgement payments ordered by the Initial Decision over the course of a year. The Division of Enforcement has informed the Office of the Secretary that it takes no position on this motion.

We will treat Respondent's motion as a request to modify the Commission's finality order by altering the schedule for paying disgorgement. We hereby grant the Unopposed Motion.

IT IS ORDERED that Respondent's Unopposed Motion to Modify Order to Schedule Disgorgement is hereby granted; and it is further

ORDERED that Harold Engel, Jr. disgorge $8,167.50, plus prejudgment interest at the rate established under Section 6621(a)(2) of the Internal Revenue Code, 26 U.S.C. § 6621(a)(2), compounded quarterly, pursuant to 17 C.F.R. § 201.600, such interest to be due from December 1, 2002, through the first day of the last month preceding which payment is made; and it is further

ORDERED that payment of the disgorgement shall be made to the United States Treasury pursuant to the following schedule: on July 7, 2004, $2,100; on October 7, 2005, $2,100; on January 7, 2005, $2,100 and on April 7, 2005, $2,100, plus the balance of unpaid principal and the prejudgment interest.

Each payment of disgorgement payment shall be: (a) made by certified check, U.S. Postal money order, bank cashier's check, or bank money order; (b) made payable to the Securities and Exchange Commission; (c) mailed or delivered to the Office of Financial Management, Securities and Exchange Commission, Operations Center, 6432 General Green Way, Stop 0-3, Alexandria, Virginia; and (d) submitted under cover letter that identifies the names of the respondents in this proceeding, as well as the Commission's case number. A copy of the letter and the instrument of payment shall be sent to counsel for the Division of Enforcement, Susan F. LaMarca, Securities and Exchange Commission, 44 Montgomery Street, Suite 1100, San Francisco, CA 94104-4691

By the Commission.

See Also: Initial Decision 33-8429 / June 10, 2004

Endnotes

---

¹ Lorsin, Inc., Initial Decision Rel. No. 250 (May 11, 2004), __ S.E.C. Docket __.

² Lorsin, Inc., Securities Act Rel. No. 8429 (June 10, 2004), ___ SEC Docket ____.

http://www.sec.gov/litigation/aljdec/33-8440.htm