 |
 |
|
|
|
|
|
|
|
| | | |
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
1
.
SEC LITIGATION RELEASE
|
EXTRACTED KEY WORDS
SECURITIES DEFENDANTS EXCHANGE COMMISSION INVESTMENT CIVIL ACTION JUDGEMENT MONEY LITIGATION CIV DISTRICT COMPLAINT FRAUDULENT PARTICIPATIONS INVESTMENT PROGRAMS INSTRUMENTS RELIEF DEFENDANTS VIOLATING ACT FRAUDULENT INVESTMENT SCHEME ANTIFRAUD PROVISIONS FEDERAL SECURITIES LAWS ADMITTING DENYING ALLEGATIONS ENTRY THEREUNDER JUDGMENT WAIVES DISGORGEMENT CIVIL MONEY PENALTIES PAY |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
Litigation Release No. 15752 / May 21, 1998
Securities and Exchange Commission v. Stewart, et al., Civil Action
No. 98 CIV 2636 (S.D.N.Y.)
The Securities and Exchange Commission announced that the Honorable
Loretta
A. Preska of the United States District Court of the Southern District
of
New York has entered a final judgment against George Wallace Stewart in
SEC
v. Stewart, et al., Civil Action No. 98 CIV 2636 (LAP)(S.D.N.Y.). On
April
14, 1998, the Commission filed a complaint alleging as follows:
Stewart
along with four other individuals and five related entities
fraudulently
obtained more than $1.7 million, from at least three individuals, by
offering and selling securities in the form of participations in
investment
programs purportedly to trade prime bank instruments. The
investment
programs were scams, the instruments themselves bogus. Instead of
using
the money as promised, Stewart and the other defendants misappropriated
the
investors funds for their own benefit, transferring portions of the
money
to at least one individual and three entities, who were named as
relief
defendants. By participating in this fraudulent investment scheme,
Stewart
and the other defendants violated the antifraud provisions of the
federal
securities laws.
SNIPPETS:
|
|
|
| | | |
|
|
