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U.S. Securities and Exchange Commission


Litigation Release No. 22673 / April 16, 2013

Securities and Exchange Commission v. Inter Reef, Ltd. dba Profitable Sunrise, Melland Company S.R.O., Color Shock S.R.O., Solutions Company S.R.O. and Fortuna-K S.R.O., Civil Action No. 1:13-CV-1104 (U.S. District Court for the Northern District of Georgia)

Court Enters Preliminary Injunction Against Inter Reef d/b/a Profitable Sunrise and Extends Asset Freeze Order

On April 15, 2013, the Honorable Thomas W. Thrash of the United States District Court for the Northern District of Georgia issued an order of preliminary injunction against violations of the registration and antifraud provisions of the federal securities laws in the civil action brought by the United States Securities and Exchange Commission against Inter Reef, Ltd. dba Profitable Sunrise and four Czech companies named as relief defendants.

The Commission filed its complaint on April 4 and in its complaint alleged that Inter Reef, located in the United Kingdom, has operated a fraudulent securities offering over the internet under the name of Profitable Sunrise that has been targeted towards investors in the United States. The Commission's complaint also named Melland Company S.R.O., Color Shock S.R.O., Solutions Company S.R.O. and Fortuna-K S.R.O. as relief defendants, alleging that they received funds from investors at the direction of Profitable Sunrise. The Court issued a temporary restraining order and granted other relief on the same day the Commission filed its complaint.

In its April 15 order, the court found that the Commission had established a prima facie case that Inter Reef had violated Sections 5(a) and (c) and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and preliminarily enjoined it from further violations. The court also continued its freeze on the assets of Inter Reef and the relief defendants.

For further information, see Litigation Release No. 22666 (April 5, 2013).

SEC Complaint



Modified: 04/16/2013