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| | Ramy El-Batrawi, et al.: Lit. Rel. No. 19655 / April 13, 2006 |
 | | The complaint alleges that El-Batrawi and Khashoggi, through an offshore entity called Ultimate Holdings, loaned approximately 15 million shares of GENI stock to Evangelista's employer at the time, Native Nations Securities, a New Jersey broker-dealer, and more than a dozen other broker-dealers in exchange for cash based upon the market value of the shares. |
 | | The Commission charged El-Batrawi, Khashoggi, Ultimate Holdings, Evangelista, and Breedon with violating the antifraud provisions of the federal securities laws, specifically Section 17(a) of the Securities Act and Section 10(b) and Rule 10b-5 of the Exchange Act, in connection with the stock loan and manipulation scheme. |
 | | As relief, the Commission is seeking permanent injunctions against all defendants, an accounting of the money that defendants obtained as a result of their illegal conduct, disgorgement (with prejudgment interest), and civil penalties. |
| www.sec.gov /litigation/litreleases/2006/lr19655.htm (626 words) |
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