Benjamin Ballout; Mohamed Zayed

The Securities and Exchange Commission obtained final judgments against Benjamin Ballout and Mohamed Zayed for their roles in a fraudulent scheme to pump and dump Enerkon Solar International, Inc. stock. The SEC's complaint alleged that Ballout inflated the company's stock prices through false statements and omissions. Ballout and Zayed were ordered to pay $460,928 each as civil penalties, with Zayed also paying disgorgement of $96,000 plus interest. The final judgments permanently enjoined them from future antifraud violations and prohibited Ballout from participating in penny stock offerings or serving as a public company officer/director.