The PHC acquisition of Planet was terminated by Planet in January 2005. DeCamillis learned that the principal operator of PHC, Kevin James Quinn, had been disbarred as an attorney in California and was also banned by the SEC from participating in public offerings. DeCamillis reported Quinn's violation to the Securities and Exchange Commission's Division of Enforcement and cancelled PHC's planned acquisition of Planet. Pearlman, who had introduced Quinn, became adversarial and DeCamillis subsequently resigned as Chief Executive Officer of the airline. That same year, under Pearlman and his new management team, the airline ceased flight operations in mid-2005.