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Litigation Release No. 20149 / June 12, 2007

SEC v. World Information Technology, Inc., et al., Civil Action No. 06-CV-13181 (VM) (S.D.N.Y.)

Court Enters Permanent Injunctions Against Ira Dicapua in "Pump-And-Dump" Scheme

The Securities and Exchange Commission announced that on June 5, 2007, the Honorable Victor Marrero, United States District Judge for the Southern District of New York entered a judgment by consent against defendant Ira Dicapua. The judgment enjoins Ira Dicapua from future 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. Dicapua consented to the entry of the judgment without admitting or denying any of the allegations in the Commission's complaint. The Court also ordered that Dicapua pay disgorgement and prejudgment interest in an amount to be determined a after further proceedings, and that it would determine in those proceedings whether Dicapua should pay a civil penalty.

Previously, on May 2, 2007, the Court entered default judgments against Dicapua's co-defendants World Information Technology, Inc. and Gary Morgan. [Litigation Release No. 20109] (May 10, 2007). For further information, see Litigation Release No. 19910 (November 15, 2006).



Modified: 06/12/2007