John R. Dumble, Kevin D. Romney, Shane H. Traveller, And Alvin Dahl Settle SEC Charges Of Conducting An Unlawful Public Offering, Committing Securities Fraud

The Commission’s complaint charged that as the former CEO of 21st Century Technologies, Inc., Dumble violated antifraud, reporting, and certification provisions of the securities laws arising out of material misstatements and omissions in 21st Century’s filings with the Commission. The Commission’s complaint charged that Romney, also a former CEO of 21st Century and a member of the company’s Board, violated antifraud, registration, and certification provisions of the securities laws arising out of his approval and certification of certain Commission filings and his participation in an unlawful public offering by 21st Century. The Commission’s complaint charged that Traveller, a former member of 21st Century’s Board, violated antifraud provisions of the securities laws and aided and abetted reporting and recordkeeping violations by 21st Century arising out of material misstatements and omissions in 21st Century’s filings with the Commission. The Commission’s complaint charged that, as 21st Century’s former CFO, Dahl violated certification provisions of the securities laws, and aided and abetted reporting and recordkeeping violations by 21st Century related the preparation and certification of the company’s Commission filings.

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In settling the Commission’s charges, Dumble consented to the entry of a final judgment that permanently enjoins him from violating antifraud and certification provisions, Section 10(b) of the Exchange Act and Rules 10b-5 and 13a-14 thereunder, and from aiding and abetting reporting violations of Section 13(a) of the Exchange Act and Rules 12b-20, 13a-11, and 13a-13 thereunder; and permanently bars him from acting as an officer or director of a public company and from participating in an offering of penny stock. Dumble was ordered to pay a civil penalty of $5,000.

Romney consented to the entry of a final judgment that permanently enjoins him from violating registration, antifraud, and certification provisions, Sections 5(a), 5(c) and 17(a) of the Securities Act and Section 10(b) of the Exchange Act and Rules 10b-5 and 13a-14 thereunder; and bars him for a period of five years from acting as an officer or director of a public company and from participating in an offering of penny stock. Romney was ordered to pay a civil penalty of $40,000.

Traveller consented to the entry of a final judgment that permanently enjoins him from violating antifraud and reporting provisions of the securities laws, Section 17(a) of the Securities Act and Sections 10(b) and 13(b)(5) of the Exchange Act and Rules 10b-5 and 13b2-1 thereunder, and from aiding and abetting violations reporting and recordkeeping provisions of Sections 13(a) and 13(b)(2)(A) of the Exchange Act and Rules 12b-20, 13a-1, and 13a-13 thereunder; and bars him for a period of five years from acting as an officer or director of a public company and from participating in an offering of penny stock. Traveller was ordered to pay a civil penalty of $50,000.

Dahl consented to the entry of a final judgment that permanently enjoins him from violating the certification provisions of Exchange Act Rule 13a-14; and from aiding and abetting violations of reporting and recordkeeping provisions of Section 13(a) of the Exchange Act and Rules 12b-20, 13a-1, and 13a-13 thereunder; and bars him for a period of five years from participating in an offering of penny stock. Dahl was ordered to pay a civil penalty of $5,000.

In connection with the settlements, the Commission also instituted settled administrative proceedings pursuant to Rule 102(e) of the Commission’s Rules of Practice against Traveller and Dahl, who are certified public accountants, whereby Traveller consented to a five-year suspension from practice before the Commission and Dahl consented to a one-year suspension from practice before the Commission.

The Commission’s litigation against the remaining defendants, Compass Capital Group, Mark Lefkowitz, and John Hopf, is ongoing.

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