U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 21047 / May 19, 2009
Securities and Exchange Commission v. W. Anthony Huff, et al., Case No. 08-60315-CIV-ZLOCH (S.D. FL)
Court Enters Final Judgment of Permanent Injunction and Other Relief Against Defendant Anthony R. Russo
The Commission announced that on May 15, 2009 the Honorable William J. Zloch of the United States District Court for the Southern District of Florida entered a Final Judgment of Permanent Injunction and Other Relief against Anthony Russo, formerly Certified Services Inc.'s Chief Executive Officer and Chief Financial Officer.
The Final Judgment enjoins him from violating Sections 10(b) and 13(b)(5) of the Securities Exchange Act of 1934 (Exchange Act), and Rules 10b-5, 13a-14, 13b2-1, 13b2-2 thereunder and from aiding and abetting Certified's violations of Section 13(a), 13(b)(2)(A), 13(b)(2)(B) of the Exchange Act and Rules 12b-20, 13a-1 and Rule 13a-13 thereunder. In addition to injunctive relief, the Final Judgment permanently bars Russo from participating in the offering of any penny stock. The Final Judgment also orders him to pay disgorgement of $90,000, prejudgment interest of $2,491.88 and a civil money penalty of $90,000. Russo consented to entry of the final judgment without admitting or denying any of the allegations in the complaint and agreed to cooperate with the Commission.
On March 6, 2008, the Commission filed a civil injunctive action against Russo and others. The complaint charged Russo and others with financial fraud conducted in violation of the federal securities laws arising from their involvement with Certified.