Sebastian International Enterprises, Inc., Ferdinand Ben Sabastian, III, and Jan L. Sebastian

Litigation Release No. 17606 / July 11, 2002

SECURITIES AND EXCHANGE COMMISSION V. SEBASTIAN INTERNATIONAL ENTERPRISES, INC., FERDINAND BEN SEBASTIAN, III, AND JAN L. SEBASTIAN, Case No. 99-1053-CIV-ORL-18-A (M.D. Fla.)

The Securities and Exchange Commission (SEC) announced that on June 7, 2001, the United States District Court for the Middle District of California entered an Order against Ferdinand Sebastian and Jan L. Sebastian, on consent, that imposed civil money penalties of $110,000 on each of them. The SEC also announced that in a separate Order dated June 6, 2001, the Court, on consent, dismissed all claims for disgorgement and penalties against Sebastian International Enterprises, Inc., and all claims against relief defendants Sebastian International Entertainment, Inc., SIE Holdings, Inc., 3dGolfer, Inc. and Grand Oasis, Inc.

These Orders resolved all of the SEC's remaining claims against the defendants in this action, who were charged with the fraudulent sale of over $17.7 million of promissory notes. For further information, see Litigation Release No. 16257 (Aug. 20, 1999).