Osvaldo Pitters et al.

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 21291 / November 12, 2009

DEFAULT JUDGMENT OF PERMANENT INJUNCTION AND OTHER RELIEF ENTERED AGAINST DEFENDANT OSVALDO PITTERS.

SEC v. Osvaldo Pitters et al., Civil Action No. 09-20957-CIV-GRAHAM/TORRES

The Commission announced that on November 10, 2009, the United States District Court for the Southern District of Florida entered a Default Judgment of Permanent Injunction and Other Relief against Defendant Osvaldo Pitters. The default judgment enjoins Pitters from violating Section 17(a) of the Securities Act of 1933, and Sections 10(b), 12, 13(a), 13(b)5, 13(b)(2)(A), 13(b)(2)(B), 15(d), 20(e), and 21(d)(2) of the Securities Exchange Act of 1934, and Rules 10b-5, 12b-20, 13a-1, 13a-13, 13a-14, 13(b)2-1, 13(b)2-2, 13d-1, and 16a-3, thereunder. In addition, the default judgment also bars Pitters from acting as an officer or director of any issuer that has a class of securities registered pursuant to Section 12 and 15(d) of the Exchange Act.

Previously, the Commission filed a complaint against Pitters and others alleging fictitious revenues from purported computer hardware sales and management services on the financial statements of VoIP, Inc., a small, publicly-traded Internet telecommunications company.

For more information on earlier actions in this case, see LR-20999 (Apr. 14, 2009).