U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 19416 / October 5, 2005
Accounting and Auditing Enforcement
Release No. 2331 / October 5, 2005
Securities and Exchange Commission v. Duane Kimble and Carene Kunkler, Case No. 1:05CV642 (S.D. Ohio) and In the Matter of Duane Kimble, CPA, and Carene Kunkler, Administrative Proceeding File No. 3-12069
SEC CHARGES FORMER CFO AND CEO OF SIGHT RESOURCE CORPORATION WITH SECURITIES LAW VIOLATIONS
The Securities and Exchange Commission announced that on October 3, it filed a settled civil action in federal court in the Southern District of Ohio, seeking civil money penalties against the former CFO, Duane Kimble (Kimble), and former CEO, Carene Kunkler (Kunkler), of Sight Resource Corporation (Sight Resource), a Cincinnati-based distributor and retailer of eyewear. Without admitting or denying the allegations in the SEC's complaint, Kimble and Kunkler consented to pay civil money penalties in the amounts of $35,000 and $25,000, respectively. In a related action, the Commission instituted settled cease-and-desist proceedings, in which Kimble and Kunkler agreed to cease and desist from committing or causing violations of Section 13(b)(5) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 13a-14 thereunder, and from causing violations of Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act and Rules 12b-20, 12b-25, 13a-11 and 13a-13 thereunder. In addition, Kimble: (1) agreed to cease and desist from committing or causing violations of Section 10(b) of the Exchange Act and Rules 10b-5, 13b2-1, and 13b2-2 thereunder; and (2) consented to the institution of settled proceedings, under Rule 102(e)(1)(iii) of the Commission's Rules of Practice, based on his willful violations of the federal securities laws and the rules thereunder, pursuant to which Kimble is denied the privilege of appearing or practicing before the Commission as an accountant, with the right to apply for reinstatement in three years.