[ by Howard Haykin ] Final judgments were entered against 2 former execs related to the illegal sale of at least $110 million in unregistered notes issued by Inofin, a Massachusetts corporation.  The SEC's complaint originally charged Inofin and executives Michal Cuomo, Kevin Mann, and Melissa George with illegally raising the money from hundreds of investors in 25 states plus the District of Columbia. The defendants are alleged to have materially misrepresented how the Company was using investor money and the Company’s financial performance.  Two sales agents – David Affeldt,  Thomas Keough - also were charged for allegedly promoting the offering and sale of Inofin’s unregistered securities.  Keough’s wife, Nancy, is named in the complaint as a relief defendant. Settlement of SEC Charges. Michale Cuomo and Kevin Mann agreed to settle SEC charges that they violated Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, as well as Sections 5 and 17(a) of the Securities Act of 1933.

• The final judgment for Cuomo has him agreeing to pay $1.86 million in disgorgement of his profits, prejudgment interest and civil penalties.
• Mann's final judgment orders him to pay $1.05 million in disgorgement, prejudgment interest, and civil penalties.

SEC action remains pending against Inofin, George, Affeldt and the Keoughs. [SEC Litigation Release 22435, 8/6/12]