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SEC v ERIC E. RESTEINER, et al Click to find out why . . .



Keywords & Phrases
CaseNo: LR-16969, CourtCode: DIS, CourtName: (U.S. DISTRICT COURT FOR THE DISTRICT OF MASSACHUSETTS, Defendant: Eric E. Resteiner, et al., Plaintiff: SEC, State: MA Massachusetts, UniqueCaseRef: SEC>LR-16969, Investors, Securities, Commission, Fraudulent, Trading, Vonstrasdas, Dyer, Massachusetts, Resource, Monthly Payments, Resteiner, District, Trading Scheme, Bunker Hill, Exchange Commission, Civil, Fraud, Bunker Hill Aviation, Complaint, Harbur, Asset, According, Instrument, Trading Program, Solicited Investors, Banks, Profits, Cessation , ContentID: 120241145

Case Documents
1 2001-04-18 SEC LITIGATION RELEASE
[ see first page and extracted highlights below  ] ItemID: 104238
2 pages
TXT
Total Documents: 1 document , 2 pages
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1 . SEC LITIGATION RELEASE

EXTRACTED KEY WORDS
SECURITIES
DEFENDANTS
COMMISSION
FRAUDULENT
TRADING
VONSTRASDAS
DYER
MASSACHUSETTS
RESOURCE
MONTHLY PAYMENTS
RESTEINER
DISTRICT
COURT
TRADING SCHEME
BUNKER HILL
EXCHANGE COMMISSION
CIVIL
FRAUD
BUNKER HILL AVIATION
COMPLAINT
HARBUR
ASSET
ACCORDING
INSTRUMENT
TRADING PROGRAM
SOLICITED INVESTORS
BANKS
PROFITS
CESSATION
   SECURITIES AND EXCHANGE COMMISSION

   Litigation Release No.16969 / April 18, 2001

   SEC v. ERIC E. RESTEINER, ET AL., Civil Action No. 01-CV-10637 (PBS)
   (D. Mass.) (U.S. District Court for the District of Massachusetts -
   Filed April 16, 2001)

SEC Obtains Emergency Relief To Halt Fraudulent Trading Scheme That
Victimized Members of the Christian Science Church

   The Securities and Exchange Commission announced today that the United
   States District Court for the District of Massachusetts issued
   temporary restraining orders against two individuals and two
   Massachusetts-based companies relating to a fraudulent trading scheme
   that raised approximately $22 million from at least 50 investors, many
   of whom were members of the Christian Science Church. The Commission
   sought the emergency relief in a civil fraud action it filed April 16,
   2001, against Voldemar A. VonStrasdas of Nassau, the Bahamas, Charles
   G. Dyer of Manchester, Massachusetts, and two Danvers,
   Massachusetts-based companies controlled by Dyer, Resource F, LLC and
   Bunker Hill Aviation, LLC. The Commission's complaint also charged two
   other individuals, Eric E. Resteiner, most recently of Nassau, the
   Bahamas, and Miles M. Harbur of Jupiter, Florida, for their
   participation in the fraudulent trading scheme. In its ruling, the
   Court prohibited VonStrasdas, Dyer, Resource F and Bunker Hill from
   engaging in further fraudulent activity related to the trading scheme
   and froze the assets of all Defendants.

   According to the complaint, the Defendants fraudulently offered and
   sold unregistered securities in an international bank-related
   financial instrument trading program that was completely fictitious.
   The Defendants promoted their trading program under various names,
   including Swiss Asset Management, Wall Street South, and Resource F.
   The Commission alleged that Resteiner, Harbur, VonStrasdas, and Dyer
   solicited investors using misrepresentations typical of "Prime
   Bank"-type investment frauds, including that the investment involved
   high-quality debt instruments of very large international banks, that
   the investors' principal was never at risk and could be returned after
   one year, and that investors would receive profits of approximately
   4-5% every month (or 48-60% annually).

   During the initial stages of the fraud, investors received monthly
   payments that the Defendants represented were "profits" on their
   investment. However, monthly payments to investors ceased by May 2000.
   Despite numerous requests, no known investors have received the return
   of their investment. Furthermore, since the cessation of monthly
   payments, VonStrasdas has regularly sent lulling letters to investors
SNIPPETS:
  • SEC v. ERIC E. RESTEINER, ET AL., Civil Action No. 01-CV-10637 (D.
  • District Court for the District of Massachusetts Filed April 16,
  • The Securities and Exchange Commission announced today that the United States District Court
  • The Commission sought the emergency relief in a civil fraud action it filed April 16, 2001,
  • In its ruling, the Court prohibited VonStrasdas, Dyer, Resource F and Bunker Hill from
  • According to the complaint, the Defendants fraudulently offered and sold unregistered
  • The Defendants promoted their trading program under various names, including Swiss Asset hat investors would receive profits of approximately 4-5% every month.
  • During the initial stages of the fraud, investors received monthly payments that the
  • Furthermore, since the cessation of monthly payments, VonStrasdas has regularly sent lulling
  • VonStrasdas and Dyer have each solicited investors to contribute money to purported legal
  • The Court entered the temporary restraining orders against Defendants VonStrasdas, Dyer,
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