SEC v WEYMAN B. SINYARD, THOMAS G. POULAKIDAS, et al


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Keywords & Phrases

CaseNo: LR-16384, CourtName: PRESIDENT OF JARCO, INC., SHOULD NOT BE HELD IN CONTEMPT OF COURT FOR, Defendant: Weyman B. Sinyard, Thomas G. Poulakidas, Randy Depoister, Financial Resources Advisory, Inc. and Jarco, Inc., Plaintiff: SEC, State: IL Illinois, UniqueCaseRef: SEC>LR-16384, Sinyard, Investors, Jarco, Civil Penalty, Commission, Weyman, Pay, District, Illinois, Amount, Amended Complaint, Involvement, Scheme, Defraud Investors, Underlying, Sold, Public Investments, Unregistered Jarco, Promissory Notes, Raising, Investors Residing, Indiana, State Material Facts, Risks, Duration, True Nature, Investor Funds, Nos , ContentID: 120241726

Case Documents

1999-12-10

SEC LITIGATION RELEASE
[ see first page and extracted highlights below ] ItemID: 104819

1 pages
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Total Documents: 1 document , 1 page. CAUTION. PLEASE NOTE THAT THIS IS A ONE PAGE CASE.

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1 . SEC LITIGATION RELEASE

EXTRACTED KEY WORDS

INVESTORS
JARCO
CIVIL PENALTY
COMMISSION
LITIGATION
WEYMAN
COURT
PAY
DISTRICT
ILLINOIS
AMOUNT
AMENDED COMPLAINT
INVOLVEMENT
SCHEME
DEFRAUD INVESTORS
UNDERLYING
SOLD
PUBLIC INVESTMENTS
UNREGISTERED JARCO
PROMISSORY NOTES
RAISING
INVESTORS RESIDING
INDIANA
STATE MATERIAL FACTS
RISKS
DURATION
TRUE NATURE
INVESTOR FUNDS
NOS

SECURITIES AND EXCHANGE COMMISSION

   LITIGATION RELEASE NO. 16384 / December 10, 1999

   SEC v. WEYMAN B. SINYARD, THOMAS G. POULAKIDAS, RANDY DEPOISTER,
   FINANCIAL RESOURCES ADVISORY, INC. AND JARCO, INC., Civil Action No.
   C94-5856 ( U.S.D.C. N.D. Illinois)(December 7, 1999)

   On December 7, 1999, the Commission filed a motion for an order to
   show cause why Weyman B. Sinyard ("Sinyard"), individually and as
   president of Jarco, Inc., should not be held in contempt of court for
   failing to pay $3,122,270.55 as required by an October 14, 1998 order
   entered by Judge John F. Grady of the United States District Court for
   the Northern District of Illinois. That order required Sinyard and
   Jarco, Inc., jointly and severally, to pay $922,270.55 in disgorgement
   and prejudgment interest, assessed a civil penalty against Sinyard in
   the amount of $200,000, and assessed a civil penalty against Jarco,
   Inc. in the amount of $2,000,000, all as a result of their involvement
   in a scheme to defraud investors. The October 14, 1998 order was based
   upon the Amended Complaint filed in the underlying case which alleged
   that Sinyard and others fraudulently offered and sold to the public
   investments in the form of unregistered Jarco, Inc. promissory notes,
   raising over $1 million from at least twenty-three investors residing
   in Illinois and Indiana. The Amended Complaint further alleged that
   Sinyard misrepresented and omitted to state material facts regarding,
   among other things, the risks, return and duration of the investment,
   the true nature of the investment and the use of investor funds.

   For further information, see Litigation Release Nos. 14259 (September
   27, 1994), 14308 (October 28, 1994), 14512 (May 26, 1995), 14603
   (August 15, 1995), 14863 (April 5, 1996), 14883 (April 17, 1996),
   15650 (February 23, 1998).
     _________________________________________________________________

Modified 12/13/1999

SNIPPETS:

SECURITIES AND EXCHANGE COMMISSION

AND JARCO, INC., Civil Action No. C94-5856 (U.S.D.C.

On December 7, 1999, the Commission filed a motion for an order to show cause why Weyman B.

That order required Sinyard and Jarco, Inc., jointly and severally, to pay $922,270.55 in

The October 14, 1998 order was based upon the Amended Complaint filed in the underlying case

The Amended Complaint further alleged that Sinyard misrepresented and omitted to state

For further information, see Litigation Release Nos.


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