Defendant Name:
W.P. Carey & Co. LLC
Defendant Type:
Public Company
SIC Code:
6798
CUSIP:
92936U10
Initial Case Details
Legal Case Name
SEC v. W.P. Carey & Co. LLC, Carey Financial LLC, John J. Park, and Claude Fernandez
First Document Date
18-Mar-2008
Initial Filing Format
Civil Proceeding
Case Number
08-cv-02846
Allegation Type
Broker Dealer
Federal District Court
New York, Southern District of New York
Violations Alleged
•
Sec 17(a) (Not specified)
Additionally,
John J. Park is alleged to have aided and abetted W.P. Carey & Co. LLC's violation of Rule 12b-20 of the Exchange Act.
Claude Fernandez is alleged to have aided and abetted W.P. Carey & Co. LLC's violation of Rule 12b-20 of the Exchange Act.
John J. Park is alleged to have aided and abetted W.P. Carey & Co. LLC's violation of Sec 13(a) of the Exchange Act.
Claude Fernandez is alleged to have aided and abetted W.P. Carey & Co. LLC's violation of Sec 13(a) of the Exchange Act.
John J. Park is alleged to have aided and abetted W.P. Carey & Co. LLC's violation of Rule 13a-1 of the Exchange Act.
Claude Fernandez is alleged to have aided and abetted W.P. Carey & Co. LLC's violation of Rule 13a-1 of the Exchange Act.
John J. Park is alleged to have aided and abetted W.P. Carey & Co. LLC's violation of Rule 13a-13 of the Exchange Act.
Claude Fernandez is alleged to have aided and abetted W.P. Carey & Co. LLC's violation of Rule 13a-13 of the Exchange Act.
John J. Park is alleged to have aided and abetted W.P. Carey & Co. LLC's violation of Sec 13(b)(2)(A) of the Exchange Act.
Claude Fernandez is alleged to have aided and abetted W.P. Carey & Co. LLC's violation of Sec 13(b)(2)(A) of the Exchange Act.
Claude Fernandez is alleged to have aided and abetted W.P. Carey & Co. LLC's violation of Sec 13(b)(5) of the Exchange Act.
Claude Fernandez is alleged to have aided and abetted W.P. Carey & Co. LLC's violation of Rule 13b2-1 Exchange Act.
Resolutions
First Resolution Date
20-Mar-2008
Headline Total Penalty and Disgorgement
$29,978,612
Related Documents:
Complaint
On March 18, 2008, the SEC filed a complaint against W.P. Carey & Co. LLC ("WPC"), Carey Financial LLC ("CF"), John J. Park ("Park"), and Claude Fernandez ("Fernandez") (collectively, "Defendants"). The SEC stated: "This case concerns a number of securities law violations by WPC and CF, including paying nearly $10 million in undisclosed compensation to a broker-dealer that sold the CPA REITs, paying undisclosed compensation to another broker-dealer for proxy solicitation services, conducting an unregistered offering of certain CPA REITs, and other disclosure failures."
LR-20501
18-Mar-2008
Litigation Release
SEC Charges W.P. Carey and Two Senior Executives in Fraudulent Payment Scheme
Commission stated that: "The Securities and Exchange Commission today filed settled securities fraud charges against W.P. Carey & Co., a manager of real estate investment trusts (REITs), and two of W.P. Carey's senior executives for paying undisclosed compensation to a brokerage firm that sold the REITs to investors. W.P. Carey did not disclose the payments to the broker-dealer, as it was required to do in the REITs offering documents, and misrepresented the payments in the REITs' periodic filings."
2008-45
18-Mar-2008
Press Release--Civil Action
SEC Charges W.P. Carey and Two Senior Executives in Fraudulent Payment Scheme
The Commission stated that: "The Securities and Exchange Commission today filed settled securities fraud charges against W.P. Carey & Co., a manager of real estate investment trusts (REITs), and two of W.P. Carey's senior executives for paying undisclosed compensation to a brokerage firm that sold the REITs to investors. W.P. Carey did not disclose the payments to the broker-dealer, as it was required to do in the REITs offering documents, and misrepresented the payments to the REITs periodic filings."
Final Judgment as to Defendants W.P. Carey & Co. LLC and Carey Financial LLC
On March 3, 2008, the SEC and defendants W.P. Carey & Co. LLC and Carey Financial LLC "consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment"
Other Defendants in Action:
