Litigation Release No. 19707 / May 22, 2006

SEC v. Focus Financial Associates, Inc., Civil Action No. 05-21527-CIV-Moore/Garber (S.D. FL)

Default Judgment of Permanent Injunction Entered Against Defendant Jean Fritz Montinard

The Securities and Exchange Commission announced that on May 16, 2006, the Honorable K. Michael Moore, United States District Judge for the Southern District of Florida entered a default judgment of permanent injunction against Jean Fritz Montinard (Montinard) for his involvement in an affinity fraud that targeted members of the Haitian-American community in Miami through local radio programs and presentations to Haitian-American church congregations. The default judgment enjoins Montinard against future violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Exchange Act of 1934 and Rule 10b-5 thereunder. In addition, the Court has reserved jurisdiction for ninety days to determine upon the Commission's motion the amount of disgorgement, prejudgment interest, and civil penalty Montinard is liable to pay.

For more information on earlier actions in this case, see Litigation Release No. 19258 / June 9, 2005 and Litigation Release No. 19472 / November 18, 2005.