Mutual Benefits Corp., et al.: Lit. Rel. No. 20151 / June 13, 2007
Mutual Benefits Corp., et al.: Lit. Rel. No. 20151 / June 13, 2007 U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 20151 / June 13, 2007 SEC v. Mutual Benefits Corp., et al., Civil Action No. 04-60573-CIV-MORENO (S.D. Fla.). The Securities and Exchange Commission announced that on April 10, 2007, the Honorable Federico Moreno, United States District Judge for the Southern District of Florida entered Final Judgments of Permanent Injunction and Other Relief against Defendants, Mutual Benefits Corp. and Steven Steiner, and Relief Defendants Camden Consulting, Inc. and SKS Consulting, Inc., respectively. The Final Judgments, which were entered with the consents of Steiner and Mutual Benefits, enjoin them from violations of Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933, and Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934. The Final Judgment against Steiner, Camden and SKS finds them jointly and severally liable for disgorgement and prejudgment interest in the amount of $5,000,000, but orders them to pay $3,925,000 based on their financial statements and other information submitted to the Commission. The Final Judgment against Mutual Benefits dismisses the Commission's remaining claims for disgorgement, prejudgment interest and civil penalties. Additionally, on April 13, 2007, the Commission filed a notice of voluntary dismissal of its disgorgement claims against Relief Defendants Viatical Benefactors, LLC and Viatical Services, Inc. because these entities are under the control of the court-appointed receiver who will be distributing their assets to defrauded investors.
