Focus Financial Associates, Inc., et al.

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 19915 / November 15, 2006

SEC v. Focus Financial Associates, Inc., et al., Case No. 05-21527-CIV-MOORE (S.D. Fla.)

The Securities and Exchange Commission announced that on June 20, 2006, the Honorable K. Michael Moore, United States District Judge for the Southern District of Florida found Max Francois, Jean Fritz Montinard, Focus Financial Associates, Inc. and Focus Development Center, Inc., jointly and severally liable for disgorgement of $5.9 million, plus prejudgment interests in the amount of $372,264.01, for their involvement in a ponzi scheme that targeted more than 600 Haitian-Americans living in South Florida through local radio programs and presentations to Haitian-American church congregations. Additionally, Defendant Francois was ordered to pay a civil money penalty of $120,000.

For more information on earlier actions in this case, see Litigation Release No. 19258 (June 9, 2005), Litigation Release No. 19472 (November 18, 2005), Litigation Release 19707 (May 22, 2006), and Litigation Release No. 19753 (July 5, 2006).