U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 20661 / July 30, 2008
FINAL JUDGMENT SETTING DISGORGEMENT AND CIVIL PENALTY ENTERED AGAINST DEFENDANTS DONALD E. SECUNDA, LARRY WEBMAN, AND MELVIN WEBAMN
Securities and Exchange Commission v. U.S. Gas & Electric, Inc., et al., Civil Action No. 06-22440-CIV-LENARD (S.D. FL)
The Securities and Exchange Commission announced that on May 2, 2008, the United States District Court for the Southern District of Florida entered a Final Judgment Setting Disgorgement and Civil Penalty against Defendants Donald Secunda, Larry Webman, and Melvin Webman. The Final Judgment orders Secunda to pay disgorgement in the amount of $392,259.15 plus prejudgment interest of $10,529.98, orders Larry Webman to pay disgorgement of $273,500 plus prejudgment interest of $11,049.40, and orders Melvin Webman to pay disgorgement of $459,918.13 plus prejudgment interest of $18,580.69. The Final Judgment also orders Secunda to pay a civil penalty of $80,000, and Larry and Melvin Webman are each ordered to pay a $120,000 civil penalty.
The Court previously entered Judgments of Permanent Injunction and other Relief by consent, against Secunda and Larry and Melvin Webman.