Federal charges of securities fraud and aggravated currency structuring were announced Wednesday against 55-year-old Isreal Owen Hawkins of Kansas City, Kan. Prosecutors say Hawkins got more than 8,000 people to invest in his company, Petro America Corp., which he claimed was worth more than $284 billion. Most of its listed assets consisted of untapped gold […]
SEC ADMINISTRATIVE PROCEEDINGS: EDWARD TAMIMI
RESPONDENT 1. Tamimi, 33 years old, is a resident of Palm Beach Gardens, Florida. From May 2007 through September 2008, Tamimi was a telemarketing sales agent for Winning Kids, Inc., a company that has never been registered with the Commission in any capacity and has not registered any offering of securities under the Securities Act […]
SEC ADMINISTRATIVE PROCEEDINGS: STUART E. RAWITT
On the basis of this Order and Respondent’s Offer, the Commission finds that 1. From September 2008 to January 2009, Rawitt offered for sale and sold securities without a having a securities license or being associated with a registered broker or dealer. Rawitt, 42 years old, is a resident of Marina Del Rey, California. 2. […]
Litigation Releases: SEC CHARGES HEDGE FUND MANAGERS WITH FRAUDULENTLY OVERVALUING SIDE-POCKETED ASSETS
U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 21699 / October 19, 2010 SEC v. Paul T. Mannion, Jr., Andrew S. Reckles, PEF Advisors LLC, and PEF Advisors Ltd., Civil Action No. 10-CV-3374 (N.D. Ga.) SEC CHARGES HEDGE FUND MANAGERS WITH FRAUDULENTLY OVERVALUING SIDE-POCKETED ASSETS, DEFALCATION, AND MATERIAL MISREPRESENTATION The Securities and Exchange Commission today […]
US church financier faces Ponzi scheme trial
By CHARLES WILSON The Associated Press INDIANAPOLIS — Karen and Fred Lamb tried to do their homework before investing their savings in an Indiana company’s fund to help churches build or expand. After talking with church friends and checking out Alanar Inc. on the Securities and Exchange Commission’s website, they decided the firm’s goals and […]
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