Litigation Release No. 18048 / March 24, 2003
DISTRICT COURT ENTERS FINAL JUDGMENT ORDERING GOLD-VENTURES CLUB AND ALEXANDER KHAMIDOLINE, d/b/a www.gold-ventures.net TO PAY DISGORGEMENT AND CIVIL PENALTIES
SECURITIES AND EXCHANGE COMMISSION V. GOLDVENTURES CLUB AND ALEXANDER KHAMIDOULINE, d/b/a www.gold-ventures.net, Case No. 1:02-CV-1434-CAP (N.D. Ga.)
The Securities and Exchange Commission (SEC) announced that on March 12, 2003, the Honorable Charles A. Pannell, United States District Judge for the Northern District of Georgia, issued an order imposing disgorgement with prejudgment interest in the amount of $19,770.76 and civil penalties of $20,000 against Defendants Gold-Ventures Club and Alexander Khamidouline, d/b/a www.gold-ventures.net, for their role in a fraudulent securities offering through their website, www.gold-ventures.net, and "spam" e-mails directed to potential U.S. investors.
On January 9, 2003, Judge Pannell entered a default judgment of permanent injunction against Gold-Ventures and Khamidouline, permanently enjoining them from violating Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder.
For more information on earlier actions in this case, see Litigation Release No. 17537 (May 28, 2002) and Litigation Release No. 17961 (February 3, 2003).