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U.S. Securities and Exchange Commission


Litigation Release No. 20123 / May 22, 2007

SEC v. One Wall Street, Inc., Donte C. Jarvis, Alan Brown, Willis "Bill" White III, and Cecil Baptiste, a/k/a John Latorri, 06 Civ. 4217 (NGG) (ARL) (E.D.N.Y.)

Court Permanently Enjoins Alan Brown in Fraud against Senior Citizens

On May 22, 2007, the United States District Court for the Eastern District of New York entered a partial consent judgment against defendant Alan Brown, of Wheatley Heights, New York, in an action filed last year by the Securities and Exchange Commission. Without admitting or denying the allegations of the Commission's complaint, Brown consented to the entry of a judgment by the Honorable Nicholas Garaufis permanently enjoining Brown from further violations of the antifraud and registration provisions of the federal securities laws. The Court also ordered that Brown pay disgorgement and prejudgment interest in an amount to be determined after further proceedings, and that it would also determine in those proceedings if Brown should be ordered to pay a civil money penalty and, if so, the amount of that penalty.

The Commission's complaint alleged that Brown made numerous oral and written false and misleading statements to investors, primarily senior citizens, who were induced to purchase One Wall Street, Inc. common stock. The defendants, including Brown, raised at least $1.6 million from at least 64 investors.

The litigation is continuing against the remaining defendants and the relief defendant.

For further information, see Litigation Release No. 19809 (Aug. 21, 2006) and Litigation Release No. 19823 (Sept. 6, 2006).



Modified: 05/22/2007