Daniel O'Riordan

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 21763 / December 6, 2010

FORMER PRESIDENT OF MASSACHUSETTS-BASED PARADIGM TACTICAL PRODUCTS, INC. SENTENCED

United States v. Daniel O'Riordan, No. 1:10-CR-10102 MLW (D. Mass April 2, 2010)

Securities and Exchange Commission v. Daniel O'Riordan, No. 1:10-CV-10550 (D. Mass. April 2, 2010)

On December 2, 2010, the Honorable Mark L. Wolf of the United States District Court for the District of Massachusetts sentenced Daniel O'Riordan of Providence Village, Texas, to 6 months imprisonment, to be followed by 3 years of supervised release, a $10,000 fine and forfeiture of $220,736.12. O'Riordan is the former president of Paradigm Tactical Products, Inc. ("Paradigm"), a company formerly based in Georgetown, Massachusetts. On April 2, 2010, the United States Attorney's Office for the District of Massachusetts ("USAO") charged O'Riordan with one count of criminal securities fraud arising from his conduct at Paradigm, and the Securities and Exchange Commission ("Commission") filed a settled civil injunctive action against O'Riordan arising from the same conduct. O'Riordan agreed to plead guilty to the criminal charge pursuant to a plea agreement with the USAO.

Both actions were based on allegations that O'Riordan, as the president of Paradigm, violated the anti-fraud provisions of the federal securities laws. The Commission's Complaint further alleged that O'Riordan also engaged in a scheme to evade the registration provisions with respect to certain sales of Paradigm securities. On April 20, 2010, the court entered a final judgment in the Commission's action wherein O'Riordan consented to the entry of a permanent injunction enjoining him from further violations of the registration and anti-fraud provisions of the federal securities laws, barring him from serving as an officer or director of a public company, and barring him from participating in any penny stock offering.

On October 14, 2010, the Commission filed a related Complaint charging LocatePlus Holdings Corporation ("LocatePlus"), a Massachusetts-based information technology company that sells on-line access to public record databases for investigative searches, with securities fraud concerning a scheme to fraudulently inflate revenue. The Complaint was amended on November 10, 2010, to further charge Jon Latorella of Marblehead, Massachusetts, and James Fields of Brookline, Massachusetts, the former CEO and CFO respectively of LocatePlus, with orchestrating two related schemes to commit securities fraud.

Separately, on November 10, 2010, the USAO filed an indictment charging Latorella and Fields with criminal violations based on the same misconduct. The SEC also acknowledges the assistance of the New England Field Division of the Federal Bureau of Investigation, the Boston Field Division of the Internal Revenue Service and the Massachusetts Securities Division.

The Commission's investigation is continuing.

For further information, see Litigation Release No. 21474 (April 2, 2010); Litigation Release No. 21692 (October 14, 2010); Litigation Release No. 21735 (November 10, 2010).