Violation Tracker Individual Record

Petro-Suisse Ltd.
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: 
Action Type: 
agency action
Securities and Exchange Commission
Civil or Criminal Case: 
Source Notes: 
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Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.