SEC v. James S. James B. Catledge, et al., Case No. 2:12-cv-00887-JCM-RJJ (D. Nevada). On October 15, 2012, the SEC announced it obtained a judgment against Derek F.C. Elliott. The SEC’s enforcement action was filed in May 2012, against James B. Catledge, Elliott, EMI Resorts (S.V.G.) Inc., EMI Sun Village, Inc. and Sun Village Juan Dolio. The case involved misrepresentations to investors in connection with the unregistered sale of interests in two resorts in the Dominican Republic. The judgment against Elliot seeks no civil penalty at this time, waives disgorgement and authorizes the Commission to seek a civil penalty of not more than $250,000 by motion. The judgment enjoins Elliott from future violations of Sections 5(a), 5(c) and 17(a)(1), (2) and (3) of the Securities Act and Section 15(a) of the Exchange Act.
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