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Author Topic: John P. Utsick, et al.  (Read 757 times)

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John P. Utsick, et al.
« on: September 23, 2009, 04:01:05 PM »
John P. Utsick, et al.
     


The Securities and Exchange Commission announced that on May 22, 2009, the United States District Court for the Southern District of Florida entered a Final Judgment Setting Disgorgement and Prejudgment Interest and Imposing a Civil Penalty against Defendant John P. Utsick. After evidentiary hearings over three days, the Court issued a 28-page opinion finding that Utsick ran his two entertainment companies as a Ponzi scheme, and improperly spent more than $4 million of investor money raised by his companies on his own expenses. The Final Judgment orders Utsick to pay disgorgement of $4,035.479.31, prejudgment interest of $921,708.84 and a civil penalty of $120,000.
     

http://www.sec.gov/litigation/litreleases/2009/lr21219.htm
     
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