U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 21986 /June 2, 2011
SECURITIES AND EXCHANGE COMMISSION v. CAROL MCKEOWN, et al., Civil Action No. 10-80748-CIV-Cohn/Seltzer (S.D. Fla.)
Court Enters Judgment of Civil Penalty and Other Relief Against Defendants Carol McKeown and Daniel F. Ryan and Grants the Commission's Voluntary Dismissal as to Civil Penalty Claims Against Meadow Vista Financial Corp. and Downshire Capital Inc.
The Commission announced that on May 23, 2011, the Honorable James I. Cohn, United States District Court Judge for the Southern District of Florida entered Judgments of Civil Penalties and Other Relief against Defendants Carol McKeown and Daniel F. Ryan. McKeown and Ryan consented to the entry of the Judgments without admitting or denying the allegations of the Commission's Complaint. The Judgments order McKeown and Ryan to pay $150,000 each in civil penalties. On the same day, the Court granted the Commission's request to voluntarily dismiss its claim for civil money penalties against Defendants Meadow Vista Financial Corp. and Downshire Capital Inc., neither of whom is conducting business and who have sought voluntary dissolution.
The Commission previously obtained Judgments of Permanent Injunction and Other Relief against Defendants McKeown, Ryan, Downshire and Meadow Vista which includes permanent injunctions and orders them to pay disgorgement of $3,719,543, representing ill-gotten gains and prejudgment interest of $74,762.81.
For more information on earlier actions in this case, see LR-21580 (June 29, 2010) and LR-21847 (Feb. 9, 2011).