SEC v. Benjamin Ballout; and Mohamed Zayed, No. LR-26331, Southern District of Florida (June 20, 2025) — Press Release
raw: Benjamin Ballout; Mohamed Zayed
Benjamin Ballout; Mohamed Zayed, No. LR-26331 (June 20, 2025)
summary
Benjamin Ballout, Mohamed Zayed, and William Fielding obtained final judgments for a penny-stock pump-and-dump scheme involving Enerkon Solar International, Inc.
paragraph
The SEC secured final judgments against defendants for inflating Enerkon Solar International stock through false statements and a bogus promissory note. Ballout and Zayed were each ordered to pay $460,928 in civil penalties, while Zayed must also pay $96,000 in disgorgement plus $25,288.33 in interest. The court also imposed permanent injunctions against future antifraud violations and penny stock participation.
narrative
The SEC obtained final judgments against Benjamin Ballout, Mohamed Zayed, and William Fielding for a pump-and-dump scheme involving Enerkon Solar International, Inc. Ballout inflated stock prices through misleading public statements, while Fielding and Zayed profited by converting a bogus promissory note into shares sold at inflated prices. Following summary judgment, the court ordered Ballout and Zayed to pay $460,928 each in civil penalties. Additionally, Zayed was ordered to pay $96,000 in disgorgement plus $25,288.33 in prejudgment interest. The judgments include permanent injunctions against future antifraud violations and participation in penny stock offerings. Furthermore, Ballout is permanently enjoined from serving as an officer or director of a public company.
Classified pump-and-dump(confidence 100%). EDGAR detection: forms S-8/S-1/424B/8-K· recall 69% / precision 12%. detection rule →
Parties
Securities and Exchange CommissionBenjamin BalloutMohamed Zayed
Keywords
balloutzayedballout zayedfinal judgmentsbenjamin balloutballout mohamedmohamed zayedsecurities exchangefinalexchange commissionwilliam fieldingjudgments againstagainst balloutsecuritiessec
Exhibits & Attached Documents (3)
Extracted insights
Dollar amounts 3
- $461K $460,928 $100K–$1M
- $96K $96,000 $10K–$100K
- $25K $25,288 $10K–$100K
Entities 7
- person benjamin ballout
- person keefe bernstein
- person mohamed zayed
- person pat disbennett
- agency Securities and Exchange Commission
- company serving as officer or director of public company
- person william fielding
Triples 15
- Securities And Exchange Commission Obtained Final Judgments Against Benjamin Ballout And Mohamed Zayed
- Benjamin Ballout Inflated Enerkon Solar International Stock Prices
- William Fielding Profited From Scheme Through Conversion Of Bogus Promissory Note To Enerkon Stock
- Mohamed Zayed Profited From Scheme Through Conversion Of Bogus Promissory Note To Enerkon Stock
- William Fielding Sold Enerkon Stock To Third Party At Inflated Prices
- Benjamin Ballout Ordered To Pay Civil Penalty Of $460,928
- Mohamed Zayed Ordered To Pay Civil Penalty Of $460,928
- Mohamed Zayed Ordered To Pay Disgorgement Of $96,000 Plus Prejudgment Interest Of $25,288.33
- Benjamin Ballout Enjoined From Future Violations Of Antifraud Provisions
- Mohamed Zayed Enjoined From Future Violations Of Antifraud Provisions
- Benjamin Ballout Enjoined From Participating In Offering Of Penny Stock
- Mohamed Zayed Enjoined From Participating In Offering Of Penny Stock
- Benjamin Ballout Enjoined From Serving As Officer Or Director Of Public Company
- Pat Disbennett Led Litigation
- Keefe Bernstein Supervised Litigation
PDF (from attached: complaint)
Text layers
Extracted body text (2,088c)
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26331 / June 20, 2025 Securities and Exchange Commission v. Benjamin Ballout, Mohamed Zayed, and William Fielding, No. 9:24-81170-CV (S.D. Fla. filed Sept. 23, 2024) SEC Obtains Final Judgments in Penny-Stock Fraud Scheme On June 11, 2025, the Securities and Exchange Commission obtained final judgments against defendants Benjamin Ballout and Mohamed Zayed for their roles in a fraudulent scheme to pump and dump the publicly traded stock of Enerkon Solar International, Inc. The SEC’s complaint alleged, among other things, that Ballout inflated Enerkon’s stock prices primarily through false and misleading statements and omissions in public statements and disclosures to investors. As alleged, with Ballout’s help, William Fielding and Zayed then profited from the scheme through the conversion of a bogus promissory note to Enerkon stock, which Fielding sold to a third party at inflated prices. On November 19, 2024, the Court previously entered a final judgment by consent against William Fielding. The entry of the final judgments against Ballout and Zayed resolves all claims arising out of the SEC’s complaint in this matter. On May 8, 2025, the Court granted the SEC’s motion for summary judgment on all claims against Ballout and Zayed. On June 11, 2025, the Court entered the final judgments against Ballout and Zayed, ordering: (a)Ballout and Zayed to each pay a civil penalty of $460,928; and (b) Zayed to pay disgorgement of $96,000 plus prejudgment interest of $25,288.33. The final judgments also permanently enjoined (a) Ballout and Zayed from future violations of the antifraud provisions that they violated under Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and Section 17(a) of the Securities Act of 1933; (b) Ballout and Zayed from participating in an offering of penny stock; and (c) Ballout from serving as an officer or director of a public company. The litigation was led by Pat Disbennett and supervised by Keefe Bernstein of the SEC’s Fort Worth Regional Office.
OCR text (2,088c · html-text · 99% conf)
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 26331 / June 20, 2025 Securities and Exchange Commission v. Benjamin Ballout, Mohamed Zayed, and William Fielding, No. 9:24-81170-CV (S.D. Fla. filed Sept. 23, 2024) SEC Obtains Final Judgments in Penny-Stock Fraud Scheme On June 11, 2025, the Securities and Exchange Commission obtained final judgments against defendants Benjamin Ballout and Mohamed Zayed for their roles in a fraudulent scheme to pump and dump the publicly traded stock of Enerkon Solar International, Inc. The SEC’s complaint alleged, among other things, that Ballout inflated Enerkon’s stock prices primarily through false and misleading statements and omissions in public statements and disclosures to investors. As alleged, with Ballout’s help, William Fielding and Zayed then profited from the scheme through the conversion of a bogus promissory note to Enerkon stock, which Fielding sold to a third party at inflated prices. On November 19, 2024, the Court previously entered a final judgment by consent against William Fielding. The entry of the final judgments against Ballout and Zayed resolves all claims arising out of the SEC’s complaint in this matter. On May 8, 2025, the Court granted the SEC’s motion for summary judgment on all claims against Ballout and Zayed. On June 11, 2025, the Court entered the final judgments against Ballout and Zayed, ordering: (a)Ballout and Zayed to each pay a civil penalty of $460,928; and (b) Zayed to pay disgorgement of $96,000 plus prejudgment interest of $25,288.33. The final judgments also permanently enjoined (a) Ballout and Zayed from future violations of the antifraud provisions that they violated under Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder and Section 17(a) of the Securities Act of 1933; (b) Ballout and Zayed from participating in an offering of penny stock; and (c) Ballout from serving as an officer or director of a public company. The litigation was led by Pat Disbennett and supervised by Keefe Bernstein of the SEC’s Fort Worth Regional Office.