==========================================START OF PAGE 1====== SECURITIES AND EXCHANGE COMMISSION Washington, D.C. Litigation Release No. 14953 / June 19, 1996 SECURITIES AND EXCHANGE COMMISSION v. BUSHMILLS INVESTMENTS, DONALD H. DICKERSON, AND RONALD F. ZEMAITIS, United States District Court for the District of Columbia, Civil Action No. 94- 1474 (Green, H.H., J.) On February 27, 1995, the Honorable Joyce H. Green, United States District Court Judge for the District of Columbia, entered a Final Judgment as to Donald Dickerson ("Dickerson") permanently enjoining him from violating the registration and antifraud provisions of the federal securities (Sections 5 and 17(a) of the Securities Act of 1933 ("Securities Act") and Sections 10(b) and 15(a) of the Securities Exchange Act of 1934 ("Exchange Act") and Rule 10b-5 thereunder). Dickerson consented to the entry of the Final Judgment without admitting or denying the allegations in the Complaint. The Commission had filed its Complaint on July 6, 1994 alleging that defendants Bushmills Investments, a trust, and its trustees Dickerson and Ronald F. Zemaitis ("Zemaitis") were involved in the offer and sale of unregistered securities, purportedly securities issued by "prime banks," through fraudulent means. At that time, the Court issued a Temporary Restraining Order. See Litigation Release No. 14149. On October 13, 1995, the Court entered an Order that granted the SEC's motion for partial summary judgment against the two remaining defendants, Bushmills Investments and Zemaitis. On November 28, 1995, the Court entered an Order and Judgment against Bushmills Investments and Zemaitis finding that they violated the registration and antifraud provisions of the federal securities laws and permanently enjoining them from further violations. Based upon the financial circumstances of Bushmills Investments and Zemaitis, the Court ordered that Bushmills Investments pay a civil penalty in the amount of $50,000 and that Zemaitis pay a civil penalty in the amount of $25,000 pursuant to Section 20(d) of the Securities Act and Section 21(d)(3) of the Exchange Act.