UNITED STATES SECURITIES AND EXCHANGE COMMISSION
LITIGATION RELEASE NO. 17811 /October 29, 2002
SECURITIES AND EXCHANGE COMMISSION v. KENNETH ROY WEARE, A/K/A ROY WEAVER, J&K GLOBAL MARKETING CORPORATION, AND AAA-AUCTION.COM, INC., Civil Action No. 01-K-0645 (D. Colo.)
COURT HOLDS WEARE AND J&K GLOBAL MARKETING IN CONTEMPT FOR VIOLATION OF ASSET FREEZE
The Commission announced that on October 29, 2002 the Honorable John L. Kane, Jr., of the United States District Court in Colorado found Kenneth Roy Weare, also known as Roy Weaver, a resident of Lakewood, Colorado, and his company, J&K Global Marketing Corporation in civil contempt for failing to comply with the court's earlier orders freezing the defendants' assets obtained from an Internet stock fraud, requiring the defendants to return to the United States investors' funds held in offshore accounts, requiring the defendants to prepare an accounting of funds raised from investors, and ordering the defendants to pay disgorgement of over $6.2 million in funds illegally obtained from investors plus prejudgment interest of $486,848. The Court required Weare and J&K to comply with the court's orders by November 1, 2002 or an arrest warrant will be issued for Weare and a $500 daily fine will be imposed on J&K until they comply with the Court's orders.