According to CCH Wall Street, the Northern District Court of Georgia has entered a final judgment in the SEC's case against Peter Warren and Exo-Brain, Inc.
The story reports that the SEC had charged Warren and Exo-Brain, a software development company, with securities fraud in its 2004 complaint. The court found that from 2000 through 2001, Warren and Exo-Brain netted $12.4 million through several fraudulent unregistered securities offerings. The court has ordered Warren and Exo-Brain to pay disgorgement of $6,400,000, pre-judgment interest of $1,981,734, and a $75,000 civil penalty. The defendants were ordered to make the payments within 30 days of the judgment.
Warren, a British national, currently resides in Cannes, France, but lived in Chattanooga, Tennessee during the relevant period. At all times, he controlled Exo-Brain, which operated out of Chattanooga.
CCH Wall Street
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