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SEC v ROGER E. TURNER Click to find out why . . .


Keywords & Phrases
CaseNo: LR-15746, CourtCode: DIS, CourtName: STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF TEXAS. THE COURT FURTHER, Defendant: Roger E. Turner, Plaintiff: SEC, State: TX Texas, UniqueCaseRef: SEC>LR-15746, Investors, Turner, United States, Securities, Exchange Commission, Texas, Prison, District, Roger, Funds, Iras, Misapplications, Guilty, Information Charging, Newly Opened Iras, Safe, Solvent Investments, False Portfolio Statements, Investors Suffered Losses, According, Report, Joe Fish, Northern District, Serve, Fort Worth District, Worth District Office, United States Attorney, State Securities Board, Criminal Investigation , ContentID: 120242324

Case Documents
1 1998-05-18 SEC LITIGATION RELEASE
[ see first page and extracted highlights below  ] ItemID: 105417 		2 pages
TXT
Total Documents: 1 document , 2 pages
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1 . SEC LITIGATION RELEASE

EXTRACTED KEY WORDS 
TURNER
UNITED STATES
SECURITIES
EXCHANGE COMMISSION
TEXAS
PRISON
DISTRICT
ROGER
FUNDS
IRAS
MISAPPLICATIONS
COURT
GUILTY
INFORMATION CHARGING
NEWLY OPENED IRAS
SAFE
SOLVENT INVESTMENTS
FALSE PORTFOLIO STATEMENTS
INVESTORS SUFFERED LOSSES
ACCORDING
REPORT
JOE FISH
NORTHERN DISTRICT
SERVE
FORT WORTH DISTRICT
WORTH DISTRICT OFFICE
UNITED STATES ATTORNEY
STATE SECURITIES BOARD
CRIMINAL INVESTIGATION







UNITED STATES SECURITIES AND EXCHANGE COMMISSION


LITIGATION RELEASE NO.  15746 / May 18, 1998

United States of America v. Roger E. Turner, USDC/ND TX (Dallas Division),
397-CR-427-G

The Securities and Exchange Commission announced that on May 12, 1998, Roger
E. Turner,
who operated a Grand Prairie, Texas investment adviser, Annable Turner &
Company, Inc.,
was sentenced to 34 months in prison and ordered to pay $2.9 million in
restitution for
violating the antifraud provisions of the Securities Act of 1933.  Earlier
this year
Turner entered a plea of guilty to an information charging that, from at
least January
1990 through January 1997, he falsely represented to investors that he would
invest their
funds, at times through newly opened IRAs, in safe, solvent investments,
with substantial
returns. In fact, Turner neither purchased the securities nor opened the
IRAs. Instead, he
misapplied investor funds, and hid his misapplications by providing
investors with false
portfolio statements. Investors suffered losses of between $1.5 and $2.5
million,
according to the information.

Turner was ordered to report to prison July 14, 1998, by the Honorable A.
Joe Fish, United
States District Court for the Northern District of Texas. The Court further
ordered that
Turner must serve at least 29 months of his prison sentence before he can
seek early
release.

The Fort Worth District Office of the Commission assisted the United States
Attorney and
the Texas State Securities Board with the criminal investigation.
SNIPPETS:
  • UNITED STATES SECURITIES AND EXCHANGE COMMISSION
  • United States of America v. Roger E. Turner, USDC/ND TX,
  • Earlier this year Turner entered a plea of guilty to an information charging that,
  • 1990 through January 1997, he falsely represented to investors that he would invest their
  • Turner neither purchased the securities nor opened the IRAs.
  • Instead, he misapplied investor funds, and hid his misapplications by providing investors
  • Investors suffered losses of between $1.5 and $2.5 million, according to the information.
  • Turner was ordered to report to prison July 14, 1998, by the Honorable A. Joe Fish, United
  • States District Court for the Northern District of Texas.
  • The Court further ordered that Turner must serve at least 29 months of his prison sentence
  • The Fort Worth District Office of the Commission assisted the United States Attorney and the
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