U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 20365 / November 19, 2007
SEC v. Roanoke Technology Corp., et al., Case No. 6:05-CV-1880-Orl-31KRS (M.D.Fla.)
Final Judgments Entered Against Defendants Barrett R. Clark, David L. Smith, Jr. and Thomas Bojadzijev
The Securities and Exchange Commission announced that on July 27, 2007, the United States District Court for the Middle District of Florida entered a Final Judgment of Permanent Injunction and Other Relief against Defendant Barrett R. Clark. The Final Judgment entered with Clark's consent, without admitting or denying the Complaint's allegations, enjoins him from violations of Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 and Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934. Clark is additionally barred from participating in a penny stock offering for a period of three (3) years. He is ordered to pay disgorgement in the amount of $170,000.00, prejudgment interest of $29,886.72 and a civil penalty in the amount of $60,000.00.
On August 31, 2007, the Court also entered Final Judgments Setting Disgorgement and Imposing Civil Penalties against Defendants David L. Smith, Jr. and Thomas Bojadzijev. The Final Judgment against Smith orders him to pay disgorgement in the amount of $4,270,450.00, prejudgment interest of $464,271.47 and a civil penalty in the amount of $120,000. The Final Judgment against Bojadzijev orders him to pay disgorgement in the amount of $2,681,866.00, prejudgment interest of $291,565.02 and a civil penalty in the amount of $120,000. Previously, on August 7, 2006, and January 3, 2007, the Court entered judgments of permanent injunction and other relief against Smith and Bojadzijev, respectively.
The SEC commenced this action by filing its complaint against Clark, Smith and Bojadzijev, among others, alleging the defendants violated the registration, anti-fraud, and reporting provisions of the federal securities laws.
For additional information, see Litigation Release No. 19511 (December 22, 2005), Release No. 19818 (September 1, 2006), Release No. 19873 (October 17, 2006), and Release No. 19968 (January 12, 2007).