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U.S. Securities and Exchange Commission


Litigation Release No. 20615 / June 12, 2008

SEC v. World Information Technology, Inc., et al., Civil Action No. 06-CV-13181 (VM) (S.D.N.Y.)

Final Judgment Entered as to Steven Sirianni Following Jury Trial

The Securities and Exchange Commission announced that on June 10, 2008, the Honorable Victor Marrero, United States District Judge for the Southern District of New York, entered a Final Judgment as to Defendant Steven Sirianni, enjoining him from future violations of Section 17(a) of the Securities Act of 1933 and Sections 10(b) and 15(a)(1) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Defendant Sirianni was also ordered to pay $75,800 in disgorgement, $23,020.37 in prejudgment interest, and a civil penalty of $110,000. On April 10, 2008, following a jury trial, a jury rendered a verdict against Sirianni for all violations charged in the Commission's Complaint.

The Commission's Complaint, filed on November 14, 2006, alleged that between October 2003 and March 2004, Sirianni received $75,800 in undisclosed compensation to solicit customer purchases of World Information Technology, Inc. ("World Information") stock. Between August 25 and December 24, 2003, Sirianni solicited purchases of World Information stock from twelve brokerage customers. Those twelve customers purchased a total of 106,900 World Information shares.

Sirianni, age 59, is a resident of Wausau, Wisconsin. Between March 2003 and October 2004, he was a stock broker with Berthel, Fisher & Company Financial Services, Inc., a registered broker-dealer located in Wausau, Wisconsin.

Previously, on May 2, 2007, the Court entered default judgments against Sirianni's co-defendants World Information Technology, Inc. and Gary Morgan. Litigation Release No. 20109 (May 10, 2007). On May 31, 2007, the Court entered a partial consent judgment against remaining co-defendant Ira Dicapua. Litigation Release No. 20149 (June 12, 2007). For further information, see Litigation Release No. 19910 (November 15, 2006).



Modified: 06/12/2008