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U.S. Securities and Exchange Commission


Litigation Release No. 16873 / January 29, 2001

Securities and Exchange Commission v. First Entertainment, Inc., and Abraham B. Goldberg, Civil Action No. 99-K-1489 (D. Colo.)

The Securities and Exchange Commission ("Commission") announced that on November 20, 2000, the United States District Court for the District of Colorado entered a Final Judgment of Permanent Injunction Against Defendant Abraham B. Goldberg, president and chief executive officer of First Entertainment, Inc., a Nevada corporation headquartered in Denver, Colorado.

Goldberg consented to the order which permanently enjoins and restrains him from violating Section 17(a) of the Securities Act, Sections 10(b), 14(a) and 16(a) of the Exchange Act or Rules 10b-5, 12b-20, 14a-3 14a-9 and 16a-3, from aiding and abetting and causing violations of Section 13(a) of the Exchange Act and Rules 12b-25, 13a-1 and 13a-13 and prohibits him from acting as an officer or director of a public company. Goldberg was also ordered to pay disgorgement in the amount of $20,000 and penalties in the amount of $20,000, plus post judgment interest .