Initial SEC complaint 2004-Judgement rendered 2006
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 19874 / October 17, 2006
SEC v. George Carapella and Alan S. Lipstein, Case No. 8:04-CV-01858-T-23MSS (M.D.Fla.)
Final Judgments of Permanent Injunction and Other Relief Entered Against Defendants George Carapella and Alan S. Lipstein
The Securities and Exchange Commission ("Commission") announced that on September 8, 2006, entered Final Judgments against Defendants George Carapella ("Carapella") and Alan S. Lipstein ("Lipstein"), respectively. The Final Judgments, entered with the consent of Carapella and Lipstein, permanently bar them from participating in a penny stock offering, and order them to pay civil penalties of $15,000 each.
The SEC commenced this action by filing its complaint against Carapella and Lipstein on August 27, 2004, alleging the defendants illegally participated in penny stock offerings and committed securities fraud in violation of prior injunctions and Commission orders barring them from such activities.
For additional information, see Litigation Release No. 18859 (August 17, 2004).
