NSAV Holding Inc (NSAV)

[brojazzy]

BUYER BEWARE: SECURITIES AND EXCHANGE COMMISSION v. THE GLOBUS GROUP, INC., et. al, No. Civ. 99-CV-1968 (S.D. Fla.)

The Commission announced today that on June 7, 2001 the United States District Court for the Southern District of Florida entered final judgments against Trans-Global Holdings, Inc., located in Des Plaines, Illinois, Jacques Verhaak, who was a director of Trans-Global residing in Memphis Tennessee, China Food and Beverage Company, located in Kew Gardens, New York, and James Tilton, who is the president and a director of China Food residing in Whitestone, New York, finding the defendants had violated the anti-fraud provisions of the federal securities laws by issuing false and misleading press releases during May and June 1999. The Court ordered Verhaak to pay a civil penalty of $15,000 and Tilton to pay a civil penalty of $37,500. The defendants consented to entry of the final judgments without admitting or denying the Court's findings.