Litigation Release No. 23617 / August 10, 2016

Securities and Exchange Commission v. Benjamin Sydney Staples, et al., Civil Action No. 3:13- 2575-JMC (D.S.C., filed September 20, 2013)

Court Enters Final Judgment Against Benjamin Sydney Staples

On August 5, 2016, the U.S. District Court for the District of South Carolina entered a final judgment against Benjamin Sydney Staples, permanently enjoining Mr. Staples from violating Sections 17(a)(2) and (3) of the Securities Act of 1933. The Order further requires Mr. Staples to pay disgorgement of $58,049.63, prejudgment interest of $5,804.97, and a civil penalty of $58,049.63. As part of the settlement, the Commission dismissed charges that Mr. Staples violated Section 17(a)(1) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The Commission also dismissed all charges against Benjamin Oneal Staples and Relief Defendant Brian Staples.

For more information, see Litigation Release No. 22805 (September 20, 2013).