IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLORADO

Civil Action No. 04-M-0620

SECURITIES AND EXCHANGE COMMISSION,

Plaintiff,

v.

ZION CAPITAL MANAGEMENT LLC
RICKY A. LANG

Defendants.

COMPLAINT FOR AN ORDER ENFORCING COMMISSION ORDER

1) Plaintiff, the Securities and Exchange Commission ("Commission"), alleges for its complaint as follows:

SUMMARY

2) Zion Capital Management LLC and Ricky A. Lang have failed to pay the civil money penalty and disgorgement ordered by the Commission in, In the Matter of Zion Capital Management LLC and Ricky A. Lang, 2003 SEC LEXIS 2939, (Administrative Proceeding File No. 3-10659) issued on December 11, 2003 (the "Commission Order") (Exhibit A).

3) The Commission now seeks an order requiring Zion Capital Management LLC and Ricky A. Lang to comply with the Commission Order pursuant to Section 21(e) of the Securities Exchange Act of 1934 ("Exchange Act") [15 U.S.C. § 78u(e)] and Section 209(d) of the Investment Advisers Act of 1940 [15 U.S.C. 80b-9(d)].

JURISDICTION AND VENUE

4) The Commission brings this action pursuant to Section 21(e) of the Securities Exchange Act of 1934 ("Exchange Act") [15 U.S.C. § 78u(e)] and Section 209(d) of the Investment Advisers Act of 1940 [15 U.S.C. 80b-9(d)], for an order of this Court commanding defendants to comply with the Commission Order.

5) Venue lies in this Court pursuant to 28 U.S.C. 1391(b)(1). Defendant Lang resides in this judicial district.

DEFENDANT

6) Defendant Lang resides in Lakewood, Colorado.

7) Defendant Zion Capital Management LLC's registration with the state of Colorado as an LLC has been suspended. Lang directs and controls Zion Capital Management.

FACTS

8) After litigation before an Administrative Law Judge Lang and Zion filed an appeal to the Commission. The Commission found that defendants committed various violations of the securities laws, and among other things, on December 11, 2003, ordered Lang and Zion jointly and severally to pay within twenty-one days : A) disgorgement of $211,821; B) prejudgment interest which as of the date of the filing of this action totals $87,343 using the interest rates established by the IRS for late payments; and C) a civil money penalty of $220,000 (Exhibit A).

9) Defendants Lang and Zion Capital Management LLC have not paid the disgorgement, prejudgment interest, and penalty as ordered by the Commission Order.

10) By reason of the foregoing, defendants Lang and Zion Capital Management are in violation of the Commission Order against them.

PRAYER FOR RELIEF

Wherefore, the commission respectfully requests that the Court:

I.

Find that the Defendant has violated the Commission Order.

II.

Issue an Order pursuant to pursuant to Section 21(e) of the Securities Exchange Act of 1934 and Section 209(d) of the Investment Advisers Act of 1940 directing defendants to comply with the Commission Order and pay the disgorgement, prejudgment interest, and civil penalty required therein.

III.

Grant such other relief as this Court may deem just or appropriate.

Dated: March 30, 2004.

Respectfully submitted,

/s/______________________
Robert M. Fusfeld 303.844.1068
Elizabeth E. Krupa 303.844.1036
Securities and Exchange Commission
1801 California Street, Suite 1500
Denver, Colorado 80202
Switchboard 303.844.1000
Facsimile 303.844.1068

http://www.sec.gov/litigation/complaints/comp18647.htm