SEC v QUALIFIED PENSIONS, INC., et al., ET AL


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Keywords & Phrases

CaseNo: LR-15763, Defendant: Qualified Pensions, Inc., et al., and Jerry G. Allison, Plaintiff: SEC, State: WA Washington, UniqueCaseRef: SEC>LR-15763, Allison, Commission, Securities, United States, District, Qpi, Exchange Commission, Civil Action, Retirement Savings, Qualified Pensions, Jerry, Announcements, Arizona, Clients, States Attorney, Executed Securities Transactions, Registering, Brokers, Commission Obtaining, Permanent Injunction, Relief, Entry, Commission Order Barring, Securities Industry, Criminal Prosecution, Central District, California, Matter, Nos , ContentID: 120242307

Case Documents

1998-06-02

SEC LITIGATION RELEASE
[ see first page and extracted highlights below ] ItemID: 105400

2 pages
TXT

Total Documents: 1 document , 2 pages

Price: $ 19.95

IVESLCD01 KGI0001

1 . SEC LITIGATION RELEASE

EXTRACTED KEY WORDS

COMMISSION
SECURITIES
UNITED STATES
DISTRICT
QPI
EXCHANGE COMMISSION
CIVIL ACTION
RETIREMENT SAVINGS
LITIGATION
QUALIFIED PENSIONS
JERRY
ANNOUNCEMENTS
ARIZONA
CLIENTS
STATES ATTORNEY
EXECUTED SECURITIES TRANSACTIONS
REGISTERING
BROKERS
COMMISSION OBTAINING
PERMANENT INJUNCTION
RELIEF
ENTRY
COMMISSION ORDER BARRING
SECURITIES INDUSTRY
CRIMINAL PROSECUTION
CENTRAL DISTRICT
CALIFORNIA
MATTER
NOS








                          SECURITIES AND EXCHANGE COMMISSION
                                   Washington, D.C.

     LITIGATION RELEASE NO. 15763 / June 2, 1998

     SECURITIES AND EXCHANGE COMMISSION v. QUALIFIED PENSIONS, INC., ET
AL.,
     Civil Action No. 95-1746 (LFO)(D.D.C.)

     UNITED STATES v. JERRY G. ALLISON, Cr. 98-71-PHX-RGS (D. Az.)

          The Securities and Exchange Commission ("Commission") announced
that
     the Honorable Roger G. Strand, United States District Judge for the
     District of Arizona, yesterday sentenced Jerry G. Allison ( Allison ),
the
     former president and 90 percent owner of Qualified Pensions, Inc. ( QPI
),
     to a federal prison term of 57 months followed by 36 months of
supervised
     release, and ordered him to pay restitution of $6,592,706.  Allison
was
     sentenced pursuant to a criminal information charging him with one
count of
     wire fraud.  Allison pled guilty on March 10, 1998.

          Allison s plea was in connection with the same misconduct as
alleged
     by the Commission in its emergency civil action filed September 13,
1995.
     In that action, the Commission alleged that Allison and QPI defrauded
     investors by misappropriating millions of dollars in retirement
savings
     that were entrusted to QPI by its clients to be maintained in
Individual
     Retirement Accounts and other retirement savings plans.  In addition to
the
     conduct charged in the criminal case, the civil complaint also alleged
that
     Allison and QPI executed securities transactions for their clients
without

SNIPPETS:

SECURITIES AND EXCHANGE COMMISSION v. QUALIFIED PENSIONS, INC., ET

UNITED STATES v. JERRY G. ALLISON,

The Securities and Exchange Commission announced that the Honorable Roger G. Strand, United

Allison s plea was in connection with the same misconduct as alleged by the Commission in its

the Commission alleged that Allison and QPI defrauded investors by misappropriating millions

In addition to the conduct charged in the criminal case, the civil complaint also alleged

The Commission s action against Allison has been fully resolved, with the Commission

Allison also consented to the entry of

Commission Order barring him from the securities industry.

Allison s criminal prosecution was handled by the United States Attorney s Office for the

States Attorney s Office for the District of Arizona.

The Commission previously has made several announcements concerning this matter.

See Litigation Release Nos.


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