U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 21572 / June 26, 2010
COURT ENTERS JUDGMENT OF PERMANENT INJUNCTION AGAINST ONE OR MORE UNKNOWN TRADERS IN THE COMMON STOCK OF CERTAIN ISSUERS (a/k/a AWE TRADING, INC. AND ANDREW ANDERSEN) AND ORDERS THEM TO PAY DISGORGEMENT WITH PREJUDGMENT INTEREST
Securities and Exchange Commission v. One or More Unknown Traders in the Common Stock of Certain Issuers (a/k/a AWE Trading, Inc. and Andrew Andersen)
Case No. 08-CV-1402 (KAM) (JMA) (E.D.N.Y.)
The Commission announced that October 2, 2009, the United States District Court for the Eastern District of New York entered a default judgment of permanent injunction and other relief enjoining defendants One or More Unknown Traders in the Common Stock of Certain Issuers (a/k/a AWE Trading, Inc. and Andrew Andersen) (“Defendants”) from future violations of Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934. Subsequently, on December 29, 2009, the Court entered an Order finding the Defendants liable for disgorgement in the amount of $92,090.72, plus prejudgment interest of $6,156.37, for a total of $98,247.09.
The Commission began this action by filing its complaint on April 7, 2008, against one or more unknown traders who carried out a sophisticated Internet scheme that stole the identities of unsuspecting individuals and netted more than $66,000 in illicit profits in just seven weeks. The complaint alleges that the Defendants conducted their entire online account intrusion scheme over the Internet and concealed their identities by, among other things, fraudulently opening brokerage accounts in the names of individuals who responded to a job advertisement on the website Craigslist.
For Additional information, see Litigation Release No. 20520 (April 7, 2008).