Phillip H. Ezell, individually and doing business as 21st Century Funding
SECURITIES AND EXCHANGE COMMISSION
LITIGATION RELEASE NO. 16990 / May 7, 2001
SECURITIES AND EXCHANGE COMMISSION v. Phillip H. Ezell, individually and doing business as 21st Century Funding, Civil No. 1:00CV0464 (N.D. In.)
On April 17, 2001, the United States District Court for the Northern District of Indiana entered a final judgment imposing a permanent injunction on Phillip Ezell, a resident of Fort Wayne, Indiana, doing business as 21st Century Funding. In its complaint against Ezell, the Commission alleged that Ezell offered fictitious "prime bank" instruments over the Internet from March 1998 to August 2000. The Commission also claimed that Ezell improperly offered to sell unregistered securities to potential investors.
Without admitting or denying the allegations, Ezell consented to the entry of the permanent injunction, which prohibits him from future violations of Sections 5(c), 17(a)(1), and 17(a)(3) of the Securities Act of 1933. Because there was no evidence that Ezell profited from his unlawful activities, and because of Ezell's financial inability to pay, the Court did not order disgorgement or impose a money penalty on him.