U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 19413 / October 5, 2005
Accounting and Auditing Enforcement
Release No. 2330 / October 5, 2005
Securities and Exchange Commission v. Benjamin Rogatinsky and Reuven Rogatinsky, Case No. 03-60648-CIV-MARTINEZ.
FINAL JUDGMENT OF PERMANENT INJUNCTION ENTERED AGAINST DEFENDANT BENJAMIN ROGATINSKY
The Securities and Exchange Commission ("SEC") announced that on August 24, 2005, the United States District Court for the Southern District of Florida entered a Final Judgment of Permanent Injunction ("Final Judgment") against Defendant Benjamin Rogatinsky ("Rogatinsky"). The Final Judgment, entered with Rogatinsky's consent, without admitting or denying the allegations of the SEC's complaint, enjoins him from violations of Section 17(a) of the Securities Act of 1933, Sections 10(b), 13(a), 13(b)(2) and 13(b)(5) of the Securities Exchange Act of 1934, and Rules 10b-5, 12b-20, 13a-1 thereunder. Additionally, the Final Judgment imposes a civil penalty in the amount of $50,000.00. On August 1, 2005, the SEC filed a voluntary dismissal with prejudice as to Relief Defendant Reuven Rogatinsky.
The SEC commenced this action by filing its complaint on April 3, 2003, alleging securities fraud against Hollywood, Florida resident Benjamin Rogatinsky, the former CEO of PrintontheNet.com ("PrintontheNet"). The Complaint charged Rogatinsky with orchestrating a fraudulent offering of PrintontheNet securities and engaging in various improper accounting practices. The complaint also named Rogatinsky's father, Reuven Rogatinsky of Hollywood, Florida, as a relief defendant for allegedly receiving proceeds from PrintontheNet's securities offering into his foreign bank accounts. On April 4, 2003, the Commission obtained an emergency order from the District Court temporarily freezing the assets of Rogatinsky and his father.