U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 16769 / October 16, 2000
S.E.C. v. Anthony J. Marino, Gregory C. Johnson, Richard Ames Higgins, Mousa International, AJM Global, and Consortio Intranacional, Civil Action No. 2:99 CV 0258G (USDC Utah).
The Securities and Exchange Commission announced that on October 6 , 2000, the Honorable J. Thomas Greene, U.S. District Judge, District of Utah, entered a summary judgment against defendants Anthony J. Marino ("Marino"), Mousa International ("Mousa"), AJM Global ("AJM"), and Consortio Intranacional ("Consortio"). The judgment permanently enjoins Marino, Mousa, AJM, and Consortio from violating Sections 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 orders Marino, Mousa, AJM, and Consortio, jointly and severally, to disgorge $28 million in ill-gotten gains, plus prejudgment interest of $3,480,098.33, for a total of $31,480,098.33. The case remains pending against defendants Gregory C. Johnson and Richard Ames Higgins.
The Commission's complaint, filed April 20, 1999, alleged that defendants Marino, Johnson, and Higgins used Mousa, AJM and Consortio to raise money from the sale of interests in "investment enhancement programs" in which investors' funds were to be pooled and invested in "prime bank instruments" through a "prime bank" or a "major world bank in Europe." Investors were promised rates of return of as high as 20 percent per month, and were falsely told that their investments were risk-free in that Lloyds of London would issue an insurance policy on the programs.
A civil bench warrant for the arrest of Anthony J. Marino, who is in prison in Costa Rica, remains outstanding.