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Litigation Release No. 20661 / July 30, 2008

FINAL JUDGMENT SETTING DISGORGEMENT AND CIVIL PENALTY ENTERED AGAINST DEFENDANTS DONALD E. SECUNDA, LARRY WEBMAN, AND MELVIN WEBAMN

Securities and Exchange Commission v. U.S. Gas & Electric, Inc., et al., Civil Action No. 06-22440-CIV-LENARD (S.D. FL)

The Securities and Exchange Commission announced that on May 2, 2008, the United States District Court for the Southern District of Florida entered a Final Judgment Setting Disgorgement and Civil Penalty against Defendants Donald Secunda, Larry Webman, and Melvin Webman. The Final Judgment orders Secunda to pay disgorgement in the amount of $392,259.15 plus prejudgment interest of $10,529.98, orders Larry Webman to pay disgorgement of $273,500 plus prejudgment interest of $11,049.40, and orders Melvin Webman to pay disgorgement of $459,918.13 plus prejudgment interest of $18,580.69. The Final Judgment also orders Secunda to pay a civil penalty of $80,000, and Larry and Melvin Webman are each ordered to pay a $120,000 civil penalty.

The Court previously entered Judgments of Permanent Injunction and other Relief by consent, against Secunda and Larry and Melvin Webman.

For additional information, see Litigation Release No. 19852 (September 29, 2006, Release No. 19882 (October 25, 2006), and Release No. 19941 (December 11, 2006).

 

http://www.sec.gov/litigation/litreleases/2008/lr20661.htm


Modified: 07/30/2008