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U.S. Securities and Exchange Commission

Before the

Securities Exchange Act of 1934
Release No. 50228 / August 23, 2004

Administrative Proceeding File No. 3-11594

In the Matter of Platinum Investment Corporation, Andrew Antonucci and Mathew Beaulieu

The Commission has instituted administrative proceedings pursuant to Section 15(b) of the Securities Exchange Act of 1934 (Exchange Act) against respondents Platinum Investment Corporation (Platinum), Andrew Antonucci (Antonucci) and Mathew Beaulieu (Beaulieu). According to the Order Instituting the Proceedings (OIP), the Commission's Division of Enforcement alleges that Platinum is a registered broker-dealer with which Antonucci and Beaulieu were associated. The Division also alleges in the OIP that the respondents were named as defendants in a civil injunctive action filed by the Commission in the United States District Court for the Southern District of New York on July 31, 2002. In that action, according to the Division's allegations in the OIP, the Commission's Complaint alleged that the respondents and other defendants raised over $1.5 million through fraudulent unregistered stock offerings conducted through Platinum and that they defrauded investors by making material misrepresentations with respect to the securities involved in the offerings. The Division also alleges in the OIP that in the civil injunctive action the respondents, upon their consent, were permanently enjoined from further violations of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.

A hearing will be scheduled before an administrative law judge to determine whether the allegations contained in the OIP are true, and to provide them with an opportunity to respond to the allegations, and to determine what, if any, remedial sanctions are appropriate and in the public interest.

The Order requires the administrative law judge to issue an initial decision no later than 300 days from the date of service of this Order, pursuant to the Commission's Rules of Practice.

See also the Order in this matter



Modified: 08/23/2004