SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 17878 / December 6, 2002
JUDGMENTS OF PERMANENT INJUNCTION ENTERED AGAINST STUART A. SLONIN AND THE STRATEGIES GROUP INC.
SECURITIES AND EXCHANGE COMMISSION V. STUART A. SLONIN, AND THE STRATEGIES GROUP, INC., Case No. 02-60932-CIV-HUCK/Turnoff (S.D. Fla.)
The Securities and Exchange Commission (SEC or Commission) announced that on November 9, 2002, the Honorable Paul Huck, United States District Judge for the Southern District of Florida, entered Judgments of Permanent Injunction and Other Relief (Judgments) against Stuart A. Slonin (Slonin) and The Strategies Group, Inc. (TSG). The Judgments against Slonin and TSG, entered by their consent, without admitting or denying the allegations of the Commission's Complaint, enjoin Slonin and TSG from violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder. In addition to enjoining Slonin and TSG, the Judgments also provide for the imposition of a civil money penalty, in amounts to be determined by the Court upon the Commission's motion.
On July 9, 2002, the SEC filed its Complaint alleging that from at least July 2000 through October 2001, Slonin and TSG offered "prime bank instruments" to attendees at insurance seminars that Slonin conducted. Slonin misrepresented that the investments were risk free and would provide returns of 15-50%. The Complaint further alleged that the investments did not exist.
See also, Litigation Release No. 17681 (August 15, 2002).