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 Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.