Defendant Name: Escala Group, Inc.

Defendant Type: Public Company

Document Reference: court_doc3_09-cv-02646

Document Details

Legal Case Name SEC v. Escala Group, Inc.
Document Name Final Judgment as to Defendant Escala Group Inc.
Document Date 30-Mar-2009
Document Format Civil Proceeding
Case Number 09-cv-02646
Federal District Court New York, Southern District of New York
Federal District Judge Denise L. Cote
Allegation Type Issuer Reporting and Disclosure
Document Summary On March 30, 2009, the Court issued a final judgment against Defendant Escala Group, Inc. The Court stated: "Defendant Escala Group, Inc. . . . consented to the Court's jurisdiction over Defendant and the subject matter of this action; consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint (except as to jurisdiction); waived findings of facts and conclusions of law; and waived any right to appeal from this Final Judgment."

Disgorgement & Penalty Information

Resolutions
Enjoinment

Related Documents:

comp20965 23-Mar-2009 Complaint
Complaint
On March 23, 2009, the SEC filed a complaint against Escala Group, Inc. The Commission stated: "This is a disclosure and accounting fraud case that concerns fraudulent related party transactions between Escala, then a Nasdaq-listed company in the collectibles market, and its parent company, Afinsa Bienes Tangibles, S.A. ("Afinsa"), a privately held Spanish company that sold investments in portfolios of stamps in Europe, in connection with sales that became part of what Spanish criminal authorities have called a ponzi or pyramid scheme."
LR-20965 23-Mar-2009 Litigation Release
SEC Charges Escala Group, Inc., its Former CEO and CFO with Disclosure and Accounting Fraud Concerning Related Party Transactions with Parent Company Afinsa
The SEC stated that: "[It] y filed a disclosure and accounting fraud case against then-NASDAQ National Market issuer Escala Group, Inc.; its founder and former CEO Gregory Manning, 62; and its former CFO Larry Lee Crawford, 60, alleging fraudulent related party transactions between Escala and its parent company, Afinsa Bienes Tangibles, S.A. ("Afinsa")."

Other Defendants in Action:

Gregory Manning
Larry Lee Crawford, CPA