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U.S. Securities and Exchange Commission


Litigation Release No. 20832 / December 19, 2008

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

Disgorgorgement, Prejudgment Interest, and Civil Penalties Entered Against Ira Dicapua

The Securities and Exchange Commission announced that on December 16, 2008, the Honorable Victor Marrero, United States District Judge for the Southern District of New York, granted the Commission's motion for summary judgment and entered a Decision and Order against defendant Ira Dicapua, ordering him to pay $117,500 in disgorgement, $40,323.24 in prejudgment interest, and a civil penalty of $117,500.

On May 31, 2007, the Court entered a partial judgment by consent against Dicapua, which enjoined 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.

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). On June 10, 2008, after a jury trial, the Court entered a final judgment against remaining co-defendant Steven Sirianni. Litigation Release No. 20615 (June 12, 2008). For further information, see Litigation Release No. 19910 (November 15, 2006).



Modified: 12/19/2008