UNITED STATES OF AMERICA
before the
SECURITIES AND EXCHANGE COMMISSION
Securities Act of 1933
Release No. 7747 / September 30, 1999
Administrative Proceeding
File No. 3-9896
In the Matter of
Bobby L. Rodgers,
Respondent
ORDER MAKING FINDINGS
AND IMPOSING REMEDIAL
SANCTIONS
I.
In connection with a public administrative proceeding instituted
against him on May 11, 1999, pursuant to Section 8A of the Securities
Act of 1933 ("Securities Act"), Bobby L. Rodgers ("Rodgers," or
"Respondent") has submitted an Offer of Settlement ("Offer") to the
Securities and Exchange Commission ("Commission"), which the
Commission has determined to accept. Solely for the purpose of this
proceeding and any other proceeding brought by or on behalf of the
Commission or in which the Commission is a party, and without
admitting or denying the findings contained herein, except as to
jurisdiction, which he admits, Rodgers consents to the entry of the
findings and remedial sanctions set forth below.
II.
On the basis of this Order and the Offer submitted by Rodgers, the
Commission makes the following findings
A. At all times relevant, respondent Bobby L. Rodgers, 55, a retired
clothing store manager, ran a purported financial consulting business
from his home in Germantown, Tennessee. On November 13, 1998, in an
enforcement action unrelated to this proceeding, Rodgers consented,
without admitting or denying the Commission's allegations, to a final
judgment in the United States District Court for the Western District
of Tennessee enjoining him from violating the registration and
antifraud provisions of the Securities Act and the antifraud
provisions of the Securities Exchange Act of 1934. , Civ. Action No.
98-2370-GV (W.D. Tenn. Apr. 23, 1998) (JSG); Litigation Release No.
15976 (Nov. 13, 1998).
SNIPPETS:
SECURITIES AND EXCHANGE COMMISSION
Administrative Proceeding
Bobby L. Rodgers,
In connection with a public administrative proceeding instituted against him on May 11, 1999,
Solely for the purpose of this proceeding and any other proceeding brought by or on behalf of
On November 13, 1998, in an enforcement action unrelated to this proceeding, Rodgers
the Commission and other federal agencies jointly issued an investor alert warning of
This case involves offerings of such bogus instruments through a website on the World Wide
These offerings were fraudulent in all material respects.
an ACC investigator expressed interest in the offerings to Stahl.
Stahl referred the investigator to an associate, who then put the investigator in touch with
On June 10, 1998, Boyd offered the investigator the opportunity to participate in a "blocked
This program would require the investor to maintain funds in a specific account for at least
Francis's information about the reserved funds program came, in turn, from Rodgers, the
Francis informed the investigator that the investment would be risk-free, and that gross
F. In addition to the foregoing, Rodgers provided Francis with documents describing another
The various programs described in the documents provided by Rodgers did not exist, nor were
A violation of Section 17occurs when a party, acting with scienter, misrepresents or omits
By engaging in the conduct described above, Rodgers violated and caused violations of Section
|
