Litigation Release No. 20038 / March 13, 2007

SEC v. Focus Financial Associates, Inc., et al., Case No. 05-21527-CIV-MOORE (S.D. Fla.)

Court Enters Final Judgment Setting Disgorgement and a Civil Penalty Against Aiby Pierre-Louis

The Securities and Exchange Commission announced that on February 28, 2007, the Honorable K. Michael Moore, United States District Judge for the Southern District of Florida found Aiby Pierre-Louis liable for disgorgement of $5.9 million, plus prejudgment interests in the amount of $817,309.43, for his involvement in a ponzi scheme that targeted more than 600 Haitian-Americans living in South Florida through local radio programs and presentations to Haitian-American church congregations. Additionally, the Court ordered Pierre-Louis to pay a civil money penalty of $120,000.

For more information on earlier actions in this case, see Litigation Release No. 19258 (June 9, 2005), Litigation Release No. 19472 (November 18, 2005), Litigation Release 19707 (May 22, 2006), Litigation Release No. 19753 (July 5, 2006), Litigation Release No. 19915 and 19916 (November 15, 2006).