U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 19463 / November 15, 2005
SECURITIES AND EXCHANGE COMMISSION V. KEVIN JAMES QUINN, 1:05-CV-00393-JR (D.D.C.)
KEVIN JAMES QUINN ENJOINED FROM VIOLATING SEC ORDERS AND ORDERED TO PAY $184,200
The Securities and Exchange Commission announced that on October 25, 2005, Kevin James Quinn was permanently enjoined from violating Commission orders and ordered to pay $184,200 pursuant to a final judgment entered by the United States District Court for the District of Columbia. Quinn consented to entry of the judgment, which was signed by Judge James Robertson.
The judgment permanently enjoins Quinn from violating previous Commission orders permanently suspending him from appearing or practicing before the Commission and barring him from participating in an offering of penny stock. The judgment also permanently enjoins Quinn from violating Section 15(b)(6)(B)(i) of the Securities Exchange Act of 1934, which makes it unlawful for any person to participate in an offering of penny stock in contravention of a Commission order. The judgment requires Quinn to pay disgorgement of $90,250, prejudgment interest of $3,700, and a civil penalty of $90,250.
The Commission's complaint alleged that Quinn, a disbarred attorney, practiced before the Commission and participated in penny stock offerings in violation of Commission orders. Specifically, the complaint alleged that Quinn drafted filings that he made with the Commission on behalf of PHC Holdings, a Nevada corporation that is a penny stock issuer, and that he acted as agent and counsel for PHC. The complaint also averred that Quinn made similar filings on behalf of Bluetorch, Inc., a Nevada corporation with its principal place of business in Cerritos, California, and Cytation Corp., a Delaware corporation with its principal place of business in Bristol, Rhode Island.
The prior orders that Quinn violated are the Order of Suspension Pursuant to Rule 102(e)(2), In the Matter of Kevin James Quinn, A.P. File No. 3-10013 (September 14, 1999) and the Order Instituting Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions, In the Matter of Kevin James Quinn, A.P. File No. 3-10137 (February 3, 2000).
For additional information, see Litigation Release No. 19103 (February 28, 2005) and Litigation Release No. 19200 (April 21, 2005).