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U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 23028 / June 24, 2014

Securities and Exchange Commission v. Mark Balbirer, Civil Action No. 13-cv-61761-HURLEY/HOPKINS

District Court Enters Final Judgment Setting a Civil Penalty in the Amount of $35,000 Against Defendant Mark Balbirer

The Commission announced that on March 21, 2014, the United States District Court for the Southern District of Florida entered a Final Judgment setting a civil penalty in the amount of $35,000 against Defendant Mark Balbirer, pursuant to Section 20(d) of the Securities Act of 1933 ("Securities Act") and Section 21(d) of the Securities Exchange Act of 1934 ("Exchange Act").

The Final Judgment follows a previous order by United States District Judge Daniel T.K. Hurley in which the Court entered a Judgment of Permanent Injunction and Other Relief against Balbirer, enjoining him from violations of Section 17(a)(1) of the Securities Act, Section 10(b) of the Exchange Act and Exchange Act Rule 10b-5(a), and permanently barring him from participating in an offering of penny stock.

The Commission commenced this action by filing its Complaint on August 14, 2013. The Complaint alleged Balbirer engaged in a fraudulent scheme involving the stock of a privately held company, So. Florida Film Fund, Inc., illicit kickbacks, and phony agreements to mask those kickbacks.

For more information on earlier actions in this case, see Litigation Release No. 22780 (August 14, 2013).

 

http://www.sec.gov/litigation/litreleases/2014/lr23028.htm


Modified: 06/24/2014