U.S. Securities & Exchange Commission
SEC Seal
Home | Previous Page
U.S. Securities and Exchange Commission

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 19615 / March 20, 2006

SEC v. Teresa V. Fernandez, 96 Civ. 8702 (S.D.N.Y.)(JES)

Teresa Fernandez Ordered to Turn Over $2 Million in Parallel Criminal Proceedings

On March 10, 2006, United States District Judge Denny Chin ordered Teresa V. Fernandez, 57, of Tenafly, New Jersey, to turn over $2,004,778 in partial satisfaction of a restitution order previously entered in a parallel criminal case, U.S. v. Teresa V. Fernandez, 96 Cr. 678 (S.D.N.Y.)(D.C.). The funds will be distributed to the victims of Fernandez's fraud.

The March 10 order resolves the financial portion of Judge Chin's January 25, 2006 sentencing judgment, in which he sentenced Fernandez to forty-one months incarceration for making false statements about her financial condition to the Securities and Exchange Commission and to two United States Probation Offices, US v. Teresa V. Fernandez, 05 Cr. 115 (S.D.N.Y.) (DC). See Litigation Release No. 19545 (January 27, 2006). The United States Attorney's Office for the Southern District of New York prosecuted both criminal cases.

For further information, see Litigation Release No. 15159 (November 19, 1996); Release No. IA 1650 (August 21, 1997); Litigation Release No. 16608 (June 26, 2000); Litigation Release No. 16800 (November 15, 2000), Litigation Release No. 19055 (January 26, 2005), and Litigation Release No. 19545 (January 27, 2006).

 

http://www.sec.gov/litigation/litreleases/lr19615.htm


Modified: 03/20/2006