Securities and Exchange Commission v., Inc. et al., Civil Action No. 0:13-cv-60637-WJZ (S.D. Fla)

The Securities and Exchange Commission recently filed fraud charges against, Inc. (“E-Monee”), its president, Estuardo Benavides (“Benavides”), and one of its directors and a licensed Florida attorney, Robert B. Cook (“Cook”), for offering shares in E-Monee to investors under the false pretense that the company owned Mexican bonds worth billions of dollars.

The SEC’s complaint, filed in the United States District Court for the Southern District of Florida, charges, Inc., Estuardo Benavides, 59, of Margate, Florida, and Robert C. Cook, 70, of Tequesta, Florida for fraudulently offering shares in E-Monee from at least January 2010 through May 2011, while claiming, among other things, the company owned Mexican bonds purportedly worth approximately $5 billion, and that E-Monee’s shares would substantially increase in value. The complaint alleges that the Mexican bonds the company owned, in reality, were essentially worthless and there was no valid basis for the claims by Benavides and Cook that E-Monee’s shares would substantially increase in value.

The SEC’s complaint charges E-Monee, Benavides and Cook with violations of Section 17(a)(1) and 17(a)(3) of the Securities Act of 1933. The SEC is seeking permanent injunctions and civil money penalties against all three defendants. The SEC will also seek penny stock bars against Benavides and Cook.

Contact Us:

With extensive courtroom, arbitration and mediation experience and an in-depth understanding of securities law, our firm provides all of our clients with the personal service they deserve. Handling cases worth $25,000 or more, we represent clients throughout Florida and across the United States, as well as for foreign individuals that invested in U.S. banks or brokerage firms. Contact us to arrange your free initial consultation.

At the Fort Lauderdale Law Office of Russell L. Forkey, we represent clients throughout South and Central Florida, including Fort Lauderdale, West Palm Beach, Boca Raton, Sunrise, Plantation, Coral Springs, Deerfield Beach, Pompano Beach, Delray, Boynton Beach, Hollywood, Lake Worth, Royal Palm Beach, Manalapan, Jupiter, Gulf Stream, Wellington, Fort Pierce, Stuart, Palm City, Jupiter, Miami, Orlando, Maitland, Winter Park, Altamonte Springs, Lake Mary, Heathrow, Melbourne, Palm Bay, Cocoa Beach, Vero Beach, Daytona Beach, Deland, New Smyrna Beach, Ormand Beach, Broward County, Palm Beach County, Dade County, Orange County, Seminole County, Martin County, Brevard County, Indian River County, Volusia County and Monroe County, Florida. The law office of Russell L. Forkey also represents South American, Canadian and other foreign residents that do business with U.S. financial institutions, investment advisors, brokerage and precious metal firms.