Uniprime Capital Acceptance, Inc. and Alfred J. Flores

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 19371 / September 12, 2005

Uniprime Capital Acceptance, Inc. and Alfred J. Flores, Civil Action No. 99-CIV-8885 (SWK) (SDNY)

FINAL JUDGMENTS ENTERED AGAINST UNIPRIME CAPITAL ACCEPTANCE, INC. AND ALFRED J. FLORES

The Securities and Exchange Commission announced that on September 1, 2005, Judge Kram of the United States District Court for the Southern District of New York entered a Final Consent Judgment of Permanent Injunctive and Other Relief against defendant Uniprime Capital Acceptance, Inc. The Final Consent Judgment permanently enjoins Uniprime from violating 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. The Final Consent Judgment also requires Uniprime to pay disgorgement in the amount of $127,201, and the Court waived payment of the remaining ill-gotten gains and does not impose a civil penalty based upon Uniprime's current financial condition and demonstrated inability to pay.

Previously, on March 23, 2004, Judge Kram entered an Order granting the Commission's motion for default and summary judgment and imposed a final permanent injunction and other relief against Alfred J. Flores, the other defendant in this action. Judge Kram enjoined Flores from violating 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. The Order also directs Flores to pay disgorgement in the amount of $11,000, plus prejudgment interest in the amount of $4092.87, and directs Flores to disgorge the 200,000 shares of restricted stock that he received from Uniprime. The Order also directs Flores to pay a $110,000 civil penalty and bars Flores from serving as an officer and director of a public company.

The Commission commenced this action by filing its Complaint on August 13, 1999 against Uniprime and Flores alleging that both fraudulently described Flores as an immunologist who developed an HIV treatment named Plasma Plus. Specifically, the Complaint alleged that Uniprime and Flores made material misrepresentations and omissions in statements to the public concerning Flores' Plasma Plus treatment. Between June 16, 1999 and August 6, 1999 Uniprime and Flores issued three false press releases and participated in an interview that was aired on Bloomberg News, claiming, among other things, that Plasma Plus was successfully tested on persons with full-blown AIDS in Madrid; that the Government of Spain submitted documentation to Uniprime verifying the test results; and that Flores graduated from universities in the United States and Spain. Through this unregistered offering, Uniprime raised approximately $450,000 from 79 investors.