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U.S. Securities and Exchange Commission

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

LITIGATION RELEASE NO. 18013 / MARCH 4, 2003

SEC V. RONALD J. GOLDBERG (S.D. Fla.), 00-4809-CIV (MARTINEZ/DUBE)

The Securities and Exchange Commission announced that on February 21, 2003, the Honorable Jose E. Martinez, United States District Court Judge for the Southern District of Florida, entered a Final Judgment of Permanent Injunction and Other Relief ("Final Judgment") against Ronald J. Goldberg ("Goldberg") in the matter of SEC v. Ronald J. Goldberg (S.D. Fla.), 00-4809-Civ (Martinez/Dube). The final judgment ordered Goldberg to pay a $200,000 civil penalty. The Court enjoined Goldberg from violating the antifraud provisions 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.

According to the complaint, which was filed on September 1, 2000, Goldberg attempted to sell securities on the Internet through fraudulent means while incarcerated at the United States Penitentiary in Atlanta, Georgia. From February through May 2000, Goldberg directed an associate to post false and misleading advertisements for the offer or sale of the stock of GlobeNet Capital Corp. ("GlobeNet") on the eBay and Yahoo! Internet auction sites. The auction site postings stated, among other things, that a GlobeNet initial public offering ("IPO") was expected in the second (or third) quarter of 2000, and that following the IPO, GlobeNet stock would begin trading at between $22-$23 per share. Goldberg's postings were false and misleading because Goldberg had no reasonable basis to represent either the timing of an IPO of GlobeNet stock or the price at which the stock might trade following an IPO. Goldberg made the representations in order to sell shares of GlobeNet stock at a profit.

See also Litigation Release No. 16678 (September 5, 2000).

 

http://www.sec.gov/litigation/litreleases/lr18013.htm


Modified: 03/04/2003