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U.S. Securities and Exchange Commission


Litigation Release No. 19612 / March 16, 2006

SEC v. C. Jones & Company, Carter Allen Jones, Timothy J. Miles, Gaylen P. Johnson, and Jonathan Curshen, Civil Action No. 03-CV-00636-WDM-PAC (U.S.D.C. Colo.)

Court Orders Carter Allen Jones to Pay Disgorgement and a Civil Money Penalty

The Securities and Exchange Commission announced that on February 3, 2006, the United States District Court for the District of Colorado ordered Carter Allen Jones to pay $68,540 in disgorgement, plus prejudgment interest of $24,670 (nunc pro tunc as of March 31, 2005), and a $110,000 civil penalty for his participation as a promoter in a "pump and dump" scheme involving Freedom Golf Corporation's common stock.

Previously, on January 21, 2004, the Court entered a default judgment of permanent injunction against Jones and his company C. Jones & Company, enjoining them from future violations of Sections 17(a) and 17(b) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Based on the Commission's motion, on March 31, 2005, the court dismissed its claims of disgorgement and penalties against C. Jones & Co.

For more information on earlier actions in this case, see Litigation Release No. 18092 (April 16, 2003).



Modified: 03/16/2006