Jan 03, 2013 (SECURITIES AND EXCHANGE COMMISSION RELEASE/ContentWorks via
COMTEX) -- The Commission announced that on January 2, 2013, the United States
District Court for the Southern District of Florida entered a Final Judgment of
Permanent Injunction by consent, against Defendant Yan K. Skwara enjoining him
from violations of Section 10(b) and Rule 10b-5 of the Securities Exchange Act
of 1934 ("Exchange Act") and Section 17(a) of the Securities Act of 1933
("Securities Act"). United States District Judge Robin S. Rosenbaum ordered Yan
K. Skwara, CEO, President, CFO, and Chairman of US Farms, Inc., to pay
Disgorgement, Prejudgment Interest and a Civil Penalty pursuant to Section
21(d)(3) of the Exchange Act and Section 20(d) of the Securities Act. The Final
Judgment orders Defendant Skwara to pay disgorgement in the amount of $28,000,
prejudgment interest of $3,372.57 and imposes a civil penalty of $28,000 for a
total of $59,372.57.
United States District Judge Robin S. Rosenbaum entered a permanent injunction
by default against US Farms, Inc. enjoining them from violations of Section
10(b) and Rule 10b-5 of the Securities Exchange Act of 1934 ("Exchange Act") and
Section 17(a) of the Securities Act of 1933 ("Securities Act"). Judge Rosenbaum
ordered US Farms, Inc. to pay disgorgement in the amount of $28,000 and
prejudgment interest of $3,372.57 for a total of $31,372.57.
The Commission commenced this action by filing its Complaint on June 4, 2012,
against Yan K. Skwara and US Farms, Inc. The Complaint alleges that Defendants
Skwara and US Farms, Inc. engaged in a fraudulent scheme involving the company's
stock, illicit kickbacks, and phony agreements to mask those kickbacks. [SEC v.
Yan K. Skwara et al.., Civil Action No. 12-61078-CIV- Rosenbaum/Seltzer, (S.D.
Fla.)] (LR-22584)
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