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Violation Tracker Individual Record

Company: Petro-Suisse Ltd.
Penalty: $8,370,000
Year: 2013
Date: October 2, 2013
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: The SEC announced that a United States District Judge for the Southern District of New York entered final judgments against defendants Petro-Suisse Ltd. and Mark Gasarch. The Court enjoined Petro-Suisse from future violations of securities laws and ordered Petro-Suisse and Gasarch jointly and severally liable to pay $8,370,000 in disgorgement, deemed satisfied by the previous payments made by Petro-Suisse, and for Gasarch to pay a $130,000 civil penalty. Petro-Suisse and Gasarch consented to the final judgments without admitting or denying the allegations in the Commission's complaint.
Level of Government: federal
Action Type: agency action
Agency: Securities and Exchange Commission
Civil or Criminal Case: civil
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.