Geek Securities, Inc., Geek Advisors, Inc. , Kautilya "Tony" Sharma, and Neal R. Wadhwa

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 19597 / March 8, 2006

SECURITIES AND EXCHANGE COMMISSION V. GEEK SECURITIES, INC., GEEK ADVISORS, INC. , KAUTILYA "TONY" SHARMA, AND NEAL R. WADHWA, CASE NO. 04-80525-CIV-PAINE/JOHNSON (SD Fla.)

JUDGMENT OF PERMANENT INJUNCTION AND OTHER RELIEF ENTERED AGAINST DEFENDANT KAUTILYA "TONY" SHARMA

The Securities and Exchange Commission announced that on February 9, 2006, the United States District Court for the Southern District of Florida entered a Judgment of Permanent Injunction and Other Relief against Defendant Kautilya "Tony" Sharma. The Judgment, entered with the consent of Sharma, without admitting or denying the allegations of the SEC's complaint, enjoins him from violations of Section 17(a) of the Securities Act of 1934, Sections 15(c)(1) and 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. In addition to injunctive relief, the Judgment provides for disgorgement, prejudgment interest and the imposition of a civil penalty in amounts to be reached by agreement of the parties and/or by the Court upon the SEC's motion.

The SEC commenced this action by filing its complaint on June 4, 2004, against Sharma, among others. The complaint alleged that defendants engaged in pervasive market timing and late trading on behalf of their institutional clients. According to the complaint, the defendants defrauded mutual funds and their shareholders by engaging in a series of activities designed to circumvent the restrictions on market timing by those mutual funds and systematically engaged in late trading in those mutual funds.

For further information, see Litigation Releases No. 18738 (June 4, 2004), No. 18938 (October 22, 2004).