U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 19958 / January 4, 2007
SEC v. U.S. Wind Farming, Inc., et al., Case No. 05 C 4259 (N.D. Ill., filed July 25, 2005)
On December 12, 2006, the Honorable Milton I. Shadur of the United States District Court for the Northern District of Illinois, Eastern Division, entered orders of Final Judgment, by default, against Defendants Anthony M. Necoechea and 20th Century Jackson Equities, Inc.
The Commission's First Amended Complaint alleged that Necoechea participated in a scheme to evade the registration provisions of the Securities Act of 1933. Necoechea, through his company, 20th Century Jackson Equities, obtained millions of shares of U.S. Wind Farming stock in an unregistered offering with the expectation that he would sell the shares into the public market and provide Wind Farming with a portion of the proceeds of these sales. The Final Judgment permanently enjoins Necoechea and 20th Century Jackson Equities from violating Sections 5(a) and 5(c) of the Securities Act of 1933 and bars them from participating in penny stock offerings. In addition, the Court ordered that Necoechea and 20th Century Jackson Equities are jointly and severally liable for disgorgement plus prejudgment interest totaling $350,268.17, and a civil penalty of $120,000.