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U.S. Securities and Exchange Commission


Litigation Release No. 19875 / October 17, 2006

SEC v. Gregory Applegate, Case No. 1:05CV2363 (N.D. Ohio)

SEC Obtains Permanent Injunctive Relief Against Broker Gregory Applegate

The Securities and Exchange Commission ("Commission") announced that on October 17, 2006, Judge Polster of the United States District Court for the Northern District of Ohio entered a Final Judgment against Gregory Applegate ("Applegate") in which Applegate consented to the entry of an order of permanent injunction enjoining him from violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The Commission had previously filed a civil injunctive action on October 7, 2005, alleging that Applegate violated the antifraud provisions of the federal securities laws by operating a Ponzi scheme.



Modified: 10/17/2006