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U.S. Securities and Exchange Commission


Litigation Release No. 20600A / July 8, 2008

SEC v. Icon World Corporation, SUNCO Resources, LLC, Jeffrey M. Zamorsky, Jesse Anthony ("Tony") Aguilar, and Christine M. Zamorsky (United States District Court for the District of Colorado, Civil Action No. 08-cv-01088-MSK-CBS)

SEC Obtains Emergency Relief Against Icon World Corporation, SUNCO Resources, LLC, and Their Principals for Oil and Gas Offering Fraud

The Securities and Exchange Commission announced that, on May 22, 2008, it filed a civil action in the United States District Court for the District of Colorado based on an ongoing fraudulent scheme conducted by Icon World Corporation ("Icon") and SUNCO Resources, LLC ("SUNCO"). Icon and SUNCO both maintained offices in Colorado Springs, Colorado, and Chandler, Arizona, and acted through their principals Jeffrey Zamorsky, a resident of Queens Creek, Arizona; Jesse Anthony ("Tony") Aguilar, a resident of Houston, Texas; and Christine Zamorsky, a resident of Castle Rock, Colorado.

According to the Complaint, the defendants defrauded investors by selling them interests in oil and gas wells that Icon and SUNCO did not own and never acquired. Among other things, Icon and SUNCO allegedly misrepresented that offering proceeds would be used to fund the development or completion of these wells. The defendants also allegedly failed to disclose the criminal histories of Tony Aguilar and Christine Zamorsky, both of whom were involved in a prior oil and gas offering fraud in Texas. The Complaint alleges that, from approximately May 2007 through the present, the defendants raised more than $1 million from investors in the Icon and SUNCO offerings. Jeffrey Zamorsky, Tony Aguilar, and Christine Zamorsky allegedly solicited sales of these interests through sales representatives who cold-called prospective investors nationwide. The Complaint further alleges that Icon and SUNCO's offerings were not registered with the Commission, nor were Jeffrey Zamorsky, Tony Aguilar, or Christine Zamorsky associated with a registered broker-dealer.

The Complaint claims that, based on this conduct, all of the defendants violated Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Rule 10b-5 thereunder. The Complaint also claims that Jeffrey Zamorsky, Tony Aguilar, and Christine Zamorsky violated Exchange Act Section 15(a). On the Commission's application, the Court issued a Temporary Restraining Order and Order Setting Hearing Concerning Preliminary Injunction Motion ("Order") on May 23, 2008. Among other things, the Court's Order froze the defendants' assets that were derived from the conduct alleged in the Complaint pending determination of the Commission's Motion for a Preliminary Injunction.



Modified: 07/09/2008