On Friday March 25, the SEC filed its
civil injunction action against Daniel Frishberg, and Mr. Frishberg consented
to the entry of the relief sought by the
Commission. Pursuant to the settlement,
and to orders which will be entered, Mr.
Frishberg will be permanently enjoined
from violations of the Investment
Advisers Act. He will also be required
to pay a civil penalty of $65,000. Mr.
Frishberg has consented to a permanent
bar from association with any registered
Pursuant to the settlement agreement,
the $65,000 penalty to be paid by
Frishberg will be transferred to the
Receivership Estate for the benefit of
investors. However, this will not limit
the ability of the Receiver to seek
further monetary relief from Mr.
Frishberg in addition to the amount to
be paid as a penalty. A press release
announcing the settlement can be found
at the following the link below, as well
as the SEC’s court filings in the
SEC v. Daniel Frishberg; Case No.
Unopposed Motion to Enter Agreed Final
Certificate of Interest Parties