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1
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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
LUIS BULAS FUNDS INVESTORS EXCHANGE COMMISSION LITIGATION UNITED STATES FRAUD RESTITUTION SECURITIES FRAUD UNIT UNITED STATES ATTORNEY SOUTHERN DISTRICT FLORIDA FEDERAL PRISON PAY CRIMINAL RESTITUTION SELL SWITZERLAND PROCEEDS SATISFY RESTITUTION ORDER VICTIMS PREVIOUSLY PLEAD GUILTY MAIL FRAUD OBTAINING FUNDS FALSE PRETENSE MONIES STOCKS MUTUAL FUNDS SECURED PROMISSORY NOTES |
SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 16923 / March 2, 2001
United States of America v. Luis Bulas, Jr., Case No.
99-871-CR-Roettger
The Securities and Exchange Commission ("Commission") and the
Securities Fraud Unit of the United States Attorney for the Southern
District of Florida, announced that on February 9, 2001, Luis Bulas,
Jr. ("Bulas") was sentenced to 30 months in a federal prison and three
years supervised release, and was ordered to pay $1,107,505.53 million
in criminal restitution. He was also ordered to sell his property in
Switzerland with the proceeds to satisfy the restitution order in
favor of his victims. Bulas had previously plead guilty to one count
of mail fraud for obtaining funds from investors on the false pretense
that he would invest their monies in stocks, mutual funds, secured
promissory notes and other investments when, in fact he
misappropriated their funds during 1995 through 1997.
For further information see Litigation Releases No. 15917 and 16337.
_________________________________________________________________
Modified 03/02/2001
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