U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 19129 / March 9, 2005

Securities and Exchange Commission v. Gene C. Geiger, Charles F. Kirby, Civ. Action No. 04-D-2463 (BNB) (D.Colo)

The Commission announced that on March 2, 2005 the United States District Court for the District of Colorado entered a default Final Order against Defendant Gene C. Geiger.

On November 30, 2004, the Securities and Exchange Commission filed a complaint in federal district court to collect disgorgement, prejudgment interest and civil penalties from Gene C. Geiger and Charles F. Kirby. The complaint charged that Geiger and Kirby failed to comply with the terms of a prior Commission order imposing remedial sanctions issued on January 9, 2003, In the Matter of Charles F. Kirby and Gene C. Geiger, 2003 SEC LEXIS 46, (Administrative Proceeding File No. 3-9602) and upheld on appeal in Geiger v. SEC, 363 F.3d 481 (D.C. Cir. 2004).

The complaint, filed pursuant to Section 21(e) of the Securities Exchange Act of 1934, asked the federal court to order Geiger and Kirby to comply with the Commission's previous Order. Since Geiger failed to answer the complaint, the final order was entered by default.

By the default final order, Geiger is ordered to pay disgorgement of $14,109.21, prejudgment interest of $10,995.48, and a civil penalty of $300,000.

http://www.sec.gov/litigation/litreleases/lr19129.htm