U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 21503 / April 26, 2010
Securities and Exchange Commission v. BarrierMed, Inc., BarrierMed Glove Co. and Victor J. Ragucci, Case No. 6:09-CV-102-Orl-28KRS (M.D. Fla.)
Court Enters Judgment of Permanent Injunction and Other Relief Against Defendant Victor J. Ragucci
The Commission announced that on April 19, 2010, the United States District Court for the Middle District of Florida entered a Judgment of Permanent Injunction and Other Relief against Defendant Victor J. Ragucci. The Judgment, entered with the consent of Ragucci, enjoins him from violations of Section 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. The Judgment also prohibits Ragucci from acting as an officer or director of any public company. The Judgment sets the issues of disgorgement and a civil penalty for later determination by the Court upon motion by the Commission.
The Commission commenced this action by filing its complaint on January 15, 2009, against Ragucci and the two companies he founded, BarrierMed, Inc. and BarrierMed Glove Co (the Companies). The complaint alleges that Ragucci and the Companies fraudulently raised over $11 million from hundreds of investors nationwide by offering and selling unregistered securities through a series of private offerings.
For additional information, see Litigation Release No. 20854 (January 15, 2009).