U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 19092 / February 18, 2005
SECURITIES AND EXCHANGE COMMISSION V. PETER J. WILSON, CIV. ACTION NO. 1:04CV2290 (N.D. OHIO)
PETER J. WILSON ENJOINED AND ORDERED TO PAY DISGORGEMENT IN SEC FRAUD ACTION RELATING TO IMPERSONATING NASDAQ AND AMEX OFFICIALS
The Securities and Exchange Commission today announced that on February 14, 2005, the United States District Court for the Northern District of Ohio entered final judgment against Peter J. Wilson. Wilson settled SEC charges by consenting to the entry of a final judgment permanently enjoining him from violating the antifraud provisions of the Federal securities laws, ordering him to pay disgorgement and prejudgment interest, and imposing a personal trading ban against him. The Commission filed the complaint in this action on November 18, 2004, charging that Wilson sought to manipulate the price of stocks he traded and illegally obtained material, non-public information from public companies by impersonating officials from the NASDAQ Stock Market and the American Stock Exchange. The Commission's complaint further alleged that Wilson illegally attempted to drive down the share price of at least one issuer's stock by posting false and misleading information regarding that issuer on internet message boards.
Pursuant to the settlement, Wilson, without admitting or denying the allegations in the complaint, consented to the entry of a final judgment permanently restraining and enjoining him from violating Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act), and Exchange Act Rule 10b-5; ordering him to pay disgorgement together with prejudgment interest of $22,000; and permanently restraining and enjoining him from, directly or indirectly, trading in securities, other than securities issued by registered open-end investment companies.
In a related criminal case, Wilson pleaded guilty on January 13, 2005 to an information charging him with one count of securities fraud and one count of making false statements to the Commission during its investigation of this scheme, both felonies. His sentencing is scheduled for April 5, 2005.
For further information, see Litigation Release No. 18979 (November 18, 2004).