U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 21111 / June 30, 2009
Securities and Exchange Commission v. Ricardo H. Goldman, Case No. 08-22666-CIV-LENARD/GARBER (S.D. Fla.)
COURT ENTERS JUDGMENT OF PERMANENT INJUNCTION AGAINST DEFENDANT RICARDO H. GOLDMAN
The Securities and Exchange Commission announced that on October 23, 2008, the United States District Court for the Southern District of Florida entered a Judgment against Defendant Ricardo H. Goldman. The Judgment, entered by consent, enjoins Goldman from violations of Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 and Sections 10(b), 15(a)(1) and Rule 10b-5 of the Securities Exchange Act of 1934. The Judgment also provides for disgorgement and civil penalty, if appropriate, which shall be determined by the Court upon motion by the Commission.
The Commission began this action by filing its complaint against Goldman on September 25, 2008, alleging, among other things, that Goldman solicited traders to invest approximately $2.1 million in a day trading operation he ran through his company, E Trade Fund LLC. Goldman provided securities day trading capability to E-Trade Fund's more than 110 traders and permitted them to day trade securities in E Trade Fund's own brokerage account at a registered broker-dealer through sub-accounts Goldman created for each trader.
E Trade Fund is not affiliated with E*TRADE Financial Corporation, the broker-dealer that is registered with the Commission.
For additional information, see Litigation Release No. 20746 (September 25, 2008).