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U.S. SECURITIES AND EXCHANGE COMMISSIONLitigation Release No. 18737 / June 4, 2004SECURITIES & EXCHANGE COMMISSION v. SCOTT ALEXANDER GRYSKIEWICZ, United States District Court for the Eastern District of New York, Civil Action No. 98 Civ. 7688 (NG)The Securities and Exchange Commission announced today that the United States District Court for the Eastern District of New York entered on May 20, 2004, a Final Judgment on Consent Against Defendant Scott Alexander Gryskiewicz and Relief Defendant American Securities, Inc. ("American (NJ)"). Gryskiewicz, age 33, and a resident of Nutley, New Jersey, consented on his behalf and on behalf of American (NJ) to the Final Judgment, without admitting or denying the allegations of the Commission's Complaint, filed on December 15, 1998, which alleged that:
The Final Judgment, which incorporates the relief obtained by the Commission in an earlier Partial Judgment on Consent against Gryskiewicz, entered on July 16, 2003, permanently enjoins Gryskiewicz from committing future violations of Section 17(a) of the Securities Act of 1933 ("Securities Act"), 15 U.S.C. §77q(a), and Sections 10(b), 15(a)(1) and 15(c)(1) of the Securities Exchange Act of 1934 (the "Exchange Act"), 15 U.S.C. §§78j(b), 78o(a)(1) and 78o(c)(1), and Rules 10b-3, 10b-5 and 15c1-2 thereunder, 17 C.F.R. §§240.10b-3, 240.10b-5 and 240.15c1-2. The Final Judgment also contains an equitable bar that prevents Gryskiewicz from participating in the offer or sale of unregistered securities. Specifically, it enjoins Gryskiewicz from participating in the offer to sell or offer to buy any security, while acting as, or on behalf of, or in association with, an issuer, underwriter, broker or dealer involved in such offer, unless a registration statement has been filed with respect to such security. The Final Judgment orders Gryskiewicz and American and (NJ) to jointly and severally pay disgorgement of $70,461.73 with prejudgment interest of $29,544.40, for a total of $100,006.13. In settling with Gryskiewicz without insisting on a civil monetary penalty, the Commission recognizes Gryskiewicz' substantial cooperation with criminal authorities. Previously, Gryskiewicz consented to a Commission order, dated September 2, 2003, which barred Gryskiewicz from associating with any broker or dealer. See prior Litigation Releases #16005 and 18278. http://www.sec.gov/litigation/litreleases/lr18737.htm
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