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Litigation Release No. 19572 / February 17, 2006

SEC v. Vestron Financial Corp., et al., Case No. 01-4269-CIV-SEITZ (USDC, S.D. FL)

Final Judgment Setting Disgorgement, Prejudgment Interest and a Civil Penalty Against Defendant Salman Shariff and Dismissing with Prejudice the Monetary Claims Against Corporate Defendants and Relief Defendants

The Securities and Exchange Commission announced that on January 25, 2006, the Honorable Patricia A. Seitz, United States District Judge for the Southern District of Florida, entered a Final Judgment against Salman Shariff. The Final Judgment orders Shariff to pay disgorgement in the amount of $2,082,000, prejudgment interest of $474,517 and a $110,000 civil penalty. In addition, the Final Judgment dismisses with prejudice its claims for disgorgement, prejudgment interest and civil penalties against Corporate Defendants Vestron Financial Corp., Vestron Investment Club, Crescent Capital Partners LP and Crescent Capital Offshore Fund and dismisses with prejudice its claims for disgorgement and prejudgment interests against Relief Defendants North Coast Holdings, Ltd. And Rainbow Bridge Investments, LLC, because they are defunct or were under the control of the Court appointed Receiver - who has already made a final distribution of their remaining assets to investors.

Previously, on March 27, 2002, the Court entered Default Judgments of Permanent Injunction and Other Relief as to All Defendants and Default Judgments of Disgorgement as to Relief Defendants. The Default Judgments enjoined Shariff and the Corporate Defendants from further violating certain provisions of the Securities Act of 1933, the Securities Exchange Act of 1934, the Investment Advisors Act of 1940 and the Investment Company Act of 1940.

For more information on earlier actions in this case, see Litigation Release No. 17496 (April 30, 2002); Litigation Release No. 17443 (March 27, 2002), Litigation Release No. 17285 (December 20, 2001); Litigation Release No. 17200 (October 16, 2001).



Modified: 02/17/2006