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| | Release No. 33-7957 / March 1, 2001 (Administrative Proceedings) |
 | | Gamal Marwan ("Marwan"), at the time of the conduct in question was 29 years old, and a resident of California. |
 | | For example, on or about October 2, 1996, Marwan transferred 15,000 shares of CHUR stock to a broker-dealer which was undisclosed compensation for previous purchases of 66,000 shares of CHUR at prices ranging from approximately $0.16 to $0.18 per share by the broker-dealer. |
 | | Accordingly, Marwan willfully violated, and committed and caused violations of, Section 17(a) of the Securities Act and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder. |
| www.sec.gov /litigation/admin/33-7957.htm (421 words) |
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