U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 21504 /April 26, 2010
Securities and Exchange Commission v. Darrel West and Own My Travel, LLC, and Professionally Assisted Marketing, Inc., Case No. 6:09-CV-1419 (M.D. Fla.).
Court Enters Judgments of Permanent Injunction and Other Relief Against Defendants Darrel West and Own My Travel, LLC
The Commission announced that on December 29, 2009, the United States District Court for the Middle District of Florida entered Judgments of Permanent Injunction and Other Relief against Defendant Darrel West and the company he controlled, Own My Travel, LLC. The Judgments, entered by consent, enjoin the defendants from violation of Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933, and Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934. The Court also ordered the defendants to pay disgorgement, prejudgment interest and civil penalties in amounts to be determined by the Court upon motion by the Commission. Additionally, the Court entered a Judgment of Disgorgement and Other Relief against Relief Defendant Professionally Assisted Marketing, Inc., in an amount to be determined by the Court upon motion by the Commission.
The Commission began this action by filing its complaint on August 14, 2009, against West, Own My Travel and Professionally Assisted Marketing, LLC. The complaint alleges the defendants misrepresented Own My Travel as a legitimate multi-level marketing company when it was actually a fraudulent pyramid scheme premised on the sale of memberships and thus destined to collapse, leaving investors with substantial losses. The complaint also alleges that West and Own My Travel misled investors about Own My Travel's business structure and how it generated revenue, the future commissions investors would purportedly receive on a monthly basis, the risks associated with the Own My Travel investment, and West's failures running a similar predecessor company.
For additional information, see Litigation Release No. 21182 (August 21, 2009).