Litigation Release No. 19522 / January 5, 2006

SEC v. Bruce M. Perry and M. Brooks Turkel, Civil Action No. 05-21525-CIV-Martinez (S.D. FL)

Final Judgment Entered Against Defendant M. Brooks Turkel

The United States Securities and Exchange Commission ("SEC") announced that on December 12, 2005, the United States District Court for the Southern District of Florida entered a Final Judgment ("Final Judgment") against Defendant M. Brooks Turkel ("Turkel"). The Final Judgment, entered with Turkel's consent, without admitting or denying the allegations of the SEC's complaint, orders him to pay a civil penalty in the amount of $35,000.

The SEC commenced this action by filing its complaint against Turkel and Bruce M. Perry ("Perry") on June 8, 2005. The complaint charged Turkel and Perry with securities fraud in connection with the offer and sale of municipal bonds issued in May 2001, by Mount Sinai Medical Center of Florida, Inc. ("Mount Sinai"), a hospital based in Miami Beach, Florida. Perry and Turkel were senior officers of Mount Sinai. Specifically, Perry was the hospital's chief executive officer from January 1999 through October 2001, and Turkel was its chief financial officer from December 1999 through July 2001 and then its chief planning officer from July 2001 until October 2001. The Complaint further alleged that defendants made material misrepresentations and omissions in the Official Statements and other documents disseminated to investors in connection with a series of three bonds issued by Mount Sinai in May 2001.

For additional information, see Litigation Release No. 19256 (June 8, 2005).