U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 21501 / April 23, 2010
Securities and Exchange Commission v. Ainsworth, et al., Case Number EDCV 08-1350 VAP (OPx) (C.D. Cal., filed October 3, 2008)
SEC OBTAINS FINAL JUDGMENT OF PERMANENT INJUNCTION AND OTHER RELIEF AGAINST DEFENDANTS KEDERIO AINSWORTH, JESUS GUTIERREZ, GUILLERMO HARO, GABRIEL PAREDES AND ANGEL ROMO
On April 21, 2010, the United States District Court for the Central District of California entered a Final Judgment of Permanent Injunction and Other Relief against Defendants Kederio Ainsworth, Jesus Gutierrez, Guillermo Haro, Gabriel Paredes and Angel Romo (collectively, the "Defendants") permanently restraining and enjoining Defendants from violations of Section 17(a) of the Securities Act of 1933 (the "Securities Act"), and Section 10(b) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 thereunder and from aiding and abetting future violations of Section 17(a) of the Exchange Act and Rules 17a-3(a)(6) and 17a-3(a)(17) thereunder.
The Court also ordered Kederio Ainsworth to disgorge $2,418 and to pay a civil monetary penalty of $2,418, Jesus Gutierrez to disgorge $2,507 and to pay a civil monetary penalty of $2,507, Guillermo Haro to disgorge $15,000 and to pay a civil monetary penalty of $15,000, Gabriel Paredes to disgorge $5,014 and to pay a civil monetary penalty of $5,014 and Angel Romo to disgorge $1,118 and to pay a civil monetary penalty of $1,118. The Defendants consented to the Court's entry of Final Judgment without admitting or denying the Complaint's allegations.
The Commission's Complaint charged Defendants with violations of the antifraud provisions of the securities laws by selling unsuitable securities, primarily Variable Universal Life insurance policies.