SEC v. David Gengler; and Lashaico, Inc., No. LR-22494, Eastern District of Virginia (Sept. 26, 2012) — Press Release

SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 22494 / September 26, 2012 United States Securities and Exchange Commission v. David Gengler, Lashaico, et al, Civil Action No. 1:08cv235 (E.D.Va) Former "Teach Me to Trade" Salesman Agrees to Settle Securities Fraud Charges and Pay a $200,000 Penalty The Securities and Exchange Commission announced that on September 5, 2012 the United States District Court for the Eastern District of Virginia entered a settled final judgment in Securities and Exchange Commission v. David Gengler, Lashaico, et al, Civil Action No. 1:08cv235 (E.D.Va. filed March 11, 2008). The final judgment resolves the Commission's case against David Gengler and Lashaico, Inc., which was initially filed in 2008. Gengler sold securities trading products and services such as classes, mentoring and software called "Teach Me to Trade" to investors who wanted to learn how to trade securities. The Commission's complaint alleged that Gengler told investors at Teach Me to Trade securities trading workshops that he had purchased mentoring, classes and software to learn to trade, and quickly profited by trading securities using Teach Me to Trade methods. The Commission alleged that Gengler's tales of trading success were untrue; he was not a successful securities trader. Gengler was president of Lashaico, and he sold the products and services pursuant to an independent contractor agreement between Lashaico and Teach Me to Trade. See Litigation Release No. 20486 (March 11, 2008) Under the terms of the settlement, Gengler agreed to pay a civil money penalty of $200,000. Without admitting or denying the Commission's allegations, Gengler and Lashaico also consented to the entry of a final judgment permanently enjoining them from future violations of Section 10(b) of the Securities Exchange Act of 1934. Additionally, under the terms of the final judgment Gengler and Lashaico are permanently enjoined from receiving compensation for participating in the development, presentation, promotion, marketing or sale of any classes, workshops, or seminars (and products or services that are offered in connection with them) given to actual or prospective securities investors concerning securities trading and designed to influence their securities trading. On September 24, 2012, the Commission issued an Order in a related, settled administrative proceeding barring Gengler from associating with any broker, dealer, investment advisor, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization, and from participating in any penny stock offering. The bar is based on the entry of the final judgment in SEC v. David Gengler, et al., enjoining Gengler from future violations of the antifraud provisions of the Exchange Act. Without admitting to the findings in the Commission's Order, except as to jurisdiction and the entry of the final judgment, Gengler consented to the issuance of the Order.

SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 22494 / September 26, 2012 United States Securities and Exchange Commission v. David Gengler, Lashaico, et al, Civil Action No. 1:08cv235 (E.D.Va) Former "Teach Me to Trade" Salesman Agrees to Settle Securities Fraud Charges and Pay a $200,000 Penalty The Securities and Exchange Commission announced that on September 5, 2012 the United States District Court for the Eastern District of Virginia entered a settled final judgment in Securities and Exchange Commission v. David Gengler, Lashaico, et al, Civil Action No. 1:08cv235 (E.D.Va. filed March 11, 2008). The final judgment resolves the Commission's case against David Gengler and Lashaico, Inc., which was initially filed in 2008. Gengler sold securities trading products and services such as classes, mentoring and software called "Teach Me to Trade" to investors who wanted to learn how to trade securities. The Commission's complaint alleged that Gengler told investors at Teach Me to Trade securities trading workshops that he had purchased mentoring, classes and software to learn to trade, and quickly profited by trading securities using Teach Me to Trade methods. The Commission alleged that Gengler's tales of trading success were untrue; he was not a successful securities trader. Gengler was president of Lashaico, and he sold the products and services pursuant to an independent contractor agreement between Lashaico and Teach Me to Trade. See Litigation Release No. 20486 (March 11, 2008) Under the terms of the settlement, Gengler agreed to pay a civil money penalty of $200,000. Without admitting or denying the Commission's allegations, Gengler and Lashaico also consented to the entry of a final judgment permanently enjoining them from future violations of Section 10(b) of the Securities Exchange Act of 1934. Additionally, under the terms of the final judgment Gengler and Lashaico are permanently enjoined from receiving compensation for participating in the development, presentation, promotion, marketing or sale of any classes, workshops, or seminars (and products or services that are offered in connection with them) given to actual or prospective securities investors concerning securities trading and designed to influence their securities trading. On September 24, 2012, the Commission issued an Order in a related, settled administrative proceeding barring Gengler from associating with any broker, dealer, investment advisor, municipal securities dealer, municipal advisor, transfer agent, or nationally recognized statistical rating organization, and from participating in any penny stock offering. The bar is based on the entry of the final judgment in SEC v. David Gengler, et al., enjoining Gengler from future violations of the antifraud provisions of the Exchange Act. Without admitting to the findings in the Commission's Order, except as to jurisdiction and the entry of the final judgment, Gengler consented to the issuance of the Order.