SEC Obtains Final Judgment Against Unregistered Broker

Litigation Release No. 24745 / February 20, 2020

Securities and Exchange Commission v. Emmanuel Kouyoumdjian (a/k/a "Manny K"), No. 0:19-cv-61773-WPD (S.D. Fla. filed July 16, 2019)

On February 18, 2020, the U.S. District Court for the Southern District of Florida entered a final judgment against Emmanuel "Manny K" Kouyoumdjian on consent for acting as an unregistered broker in an unregistered offering of common stock.

According to the SEC's complaint, Kouyoumdjian, a formerly registered, and later disbarred, stockbroker, acted as an unregistered broker of the common stock of ForceField Energy, Inc., then a public "alternative energy" company with common stock traded on the Nasdaq Capital Market. Kouyoumdjian solicited potential investors in a nationwide cold-calling campaign, touted the supposed merits of ForceField, negotiated and closed stock sales, and was paid commissions for each investment by ForceField's Chairman through an offshore bank account he controlled.

Without admitting or denying the allegations, Kouyoumdjian consented to a final judgment, which permanently enjoins him from violating the securities registration provisions of Section 5 of the Securities Act, and the broker-dealer registration provisions of Section 15(a) of the Securities Exchange Act of 1934. The court also ordered Kouyoumdjian to pay disgorgement, prejudgment interest and a civil penalty totaling $62,007.