U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 21707/October 22, 2010

PERMANENT INJUNCTION AND OTHER RELIEF ENTERED AGAINST DEFENDANTS VICTOR SELENOW AND EDWARD TAMIMI

Securities and Exchange Commission v. Winning Kids, Inc., et al., Civil Action No. 10-CV-80186-MARRA/JOHNSON (S.D. Fla.)

The Commission announced that on October 15, 2010, the Honorable Kenneth A. Marra, United States District Court Judge for the Southern District of Florida, entered final judgments of permanent injunction and other relief against Defendants Victor Selenow and Edward Tamimi, two sales agents for Winning Kids, Inc. The final judgments against Selenow and Tamimi enjoin them from violating Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933, and Sections 10(b), 15(a), and Rule 10b-5 of the Securities Exchange Act of 1934. In addition to injunctive relief, Selenow is liable for disgorgement of $41,500, plus prejudgment interest of $3,883 and a civil penalty of $50,000. Tamimi is liable for disgorgement of $194,250, plus prejudgment interest of $14,176.46 and a civil penalty of $130,000. Selenow and Tamimi consented to the entry of final judgments without admitting or denying any of the allegations in the complaint.

On January 29, 2010, the Commission filed its complaint against Selenow, Tamimi and others alleging that they participated in a fraudulent offering scheme that raised approximately $2 million from investors nationwide, purportedly for the development and marketing of children’s books.

For more information on earlier actions in this case, see LR-21400 (Feb. 2, 2010) and LR-21589 (July 8, 2010).

 
http://www.sec.gov/litigation/litreleases/2010/lr21707.htm

Last modified: 10/22/2010