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SEC v NU-LIFE INTERNATIONAL OF GEORGIA, INC, GENE ARTHUR Click to find out why . . .



Keywords & Phrases
CaseNo: LR-15379, CourtName: THE DATE OF THE ORDER. THE COURT FURTHER ORDERED NU-LIFE AND ARTHUR, Defendant: Nu-Life International of Georgia, Inc, Gene Arthur, Plaintiff: SEC, State: GA Georgia, UniqueCaseRef: SEC>LR-15379, Securities, Nu-life, Arthur, United States, Exchange Commission, Georgia, Complaint, Gene Arthur, Civil, District, Relief, Act, Accountings, Investors, Denying, Allegations Set, Selling Securities, Investment Contracts, Stock Options, Defendants Sold Nu-life, Sold Nu-life Memberships, Prices Ranging, Misrepresenting, Failing, Disclose Material Facts, Connection, Sale , ContentID: 120242681

Case Documents
1 1997-05-30 SEC LITIGATION RELEASE
[ see first page and extracted highlights below  ] ItemID: 105775
2 pages
TXT
Total Documents: 1 document , 2 pages
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1 . SEC LITIGATION RELEASE

EXTRACTED KEY WORDS
NU-LIFE
ARTHUR
UNITED STATES
EXCHANGE COMMISSION
GEORGIA
COMPLAINT
GENE ARTHUR
CIVIL
DISTRICT
RELIEF
ACT
COURT
ACCOUNTINGS
DEFENDANTS
INVESTORS
DENYING
ALLEGATIONS SET
SELLING SECURITIES
INVESTMENT CONTRACTS
STOCK OPTIONS
DEFENDANTS SOLD NU-LIFE
SOLD NU-LIFE MEMBERSHIPS
PRICES RANGING
MISREPRESENTING
FAILING
DISCLOSE MATERIAL FACTS
CONNECTION
SALE
LITIGATION





                   UNITED STATES SECURITIES AND EXCHANGE COMMISSION

     Litigation Release 15379 / May 30, 1997

     SEC v. Nu-Life International of Georgia, Inc. and Gene Arthur
     (Civil Action No. 1:96-CV-2534-ODE, N.D. Ga.)

          The Securities and Exchange Commission announced today that on May
21,
     1997, the Honorable Orinda D. Evans, United States District Judge for
the
     Northern District of Georgia, entered separate orders of permanent
     injunction and other relief against Nu-Life International of Georgia,
Inc.
     ("Nu-Life") and Gene Arthur ("Arthur"), enjoining them from violating
     Section 17(a) of the Securities Act of 1933 and Section 10(b) of the
     Securities Exchange Act of 1934 and Rule 10b-5 thereunder.  Arthur
was
     ordered to pay civil penalties in the amount of $20,000 within 30 days
of
     the date of the Order. The Court further ordered Nu-Life and Arthur
to
     prepare sworn accountings of all monies received from the scheme and of
the
     disposition and use of said funds.  The accountings are to be submitted
to
     the Court within 30 days of the date of the Court's order.

          Nu-Life and Arthur consented to the relief without admitting or
     denying the allegations set forth in a complaint filed by the
Commission on
     September 27, 1996.  The complaint alleged that the defendants raised
at
     least $200,000 from approximately 100 investors in at least twelve
states
     by selling securities in the form of investment contracts and
approximately
     $662,500 in stock options.  The complaint further alleged that the
     defendants sold Nu-Life memberships at prices ranging from $494 to
$12,500
     by misrepresenting or failing to disclose material facts in connection
with
     the offer and sale of the securities.  For more information, see
SNIPPETS:
  • UNITED STATES SECURITIES AND EXCHANGE COMMISSION
  • SEC v. Nu-Life International of Georgia, Inc. and Gene Arthur
  • The Securities and Exchange Commission announced today that on May
  • Arthur was ordered to pay civil penalties in the amount of $20,000 within 30 days of the date
  • The Court further ordered Nu-Life and Arthur to prepare sworn accountings of all monies
  • Nu-Life and Arthur consented to the relief without admitting or denying the allegations set
  • The complaint alleged that the defendants raised at least $200,000 from approximately 100
  • The complaint further alleged that the defendants sold Nu-Life memberships at prices ranging
  • by misrepresenting or failing to disclose material facts in connection with the offer and
  • For more information, see Litigation
  •    |