UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 41756 / August 18, 1999
ADMINISTRATIVE PROCEEDING
File No. 3-9979
In the Matter of
CHRISTIAN R. HIGGINS,
CHARLES L. POWELL,
JAMES P. GALLAHER,
DALE J. ENGELHARDT, and
TREY L. FRIEDMANN,
Respondents.
ORDER INSTITUTING PUBLIC
ADMINISTRATIVE PROCEEDING
PURSUANT TO SECTIONS 15(b)
AND 19(h) OF THE SECURITIES
EXCHANGE ACT OF 1934, MAKING
FINDINGS AND IMPOSING
REMEDIAL SANCTIONS
I.
The Securities and Exchange Commission (the "Commission") deems it
appropriate and in the public interest that a public administrative
proceeding be instituted pursuant to Sections 15(b) and 19(h) of the
Securities Exchange Act of 1934 ("Exchange Act") against Respondents
Christian R. Higgins ("Higgins"), Charles L. Powell ("C. Powell"),
James P. Gallaher ("Gallaher"), Dale J. Engelhardt ("Engelhardt") and
Trey L. Friedmann ("Friedmann") (collectively, the "Salesmen").
Accordingly, IT IS HEREBY ORDERED that said proceeding against
Higgins, C. Powell, Gallaher, Engelhardt and Friedmann be, and hereby
is, instituted.
II.
In anticipation of the institution of this proceeding, the Salesmen
have submitted offers of settlement ("Offers") to the 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 herein, except that the Salesmen
SNIPPETS:
SECURITIES AND EXCHANGE COMMISSION
CHRISTIAN R. HIGGINS, CHARLES L. POWELL, JAMES P. GALLAHER,
TREY L. FRIEDMANN,
ORDER INSTITUTING PUBLIC ADMINISTRATIVE PROCEEDING
PURSUANT TO SECTIONS 15AND 19OF THE SECURITIES
EXCHANGE ACT OF 1934, MAKING FINDINGS AND IMPOSING REMEDIAL SANCTIONS
Solely for the purpose of this proceeding and any other proceeding brought by or on behalf of
rsuant to Sections 15and 19of the Securities Exchange Act of 1934, Making Findings and Imposing
From at least June 1996 to June 1998, Higgins, C. Powell, Gallaher and Engelhardt were
Higgins, C. Powell, Gallaher and Engelhardt sold limited partnership interests through Irvine
SEC v. Environmental Energy, Inc., et al., Civil Action No. 98-6060 CM (C.D.
The Commission's Complaint, filed on July 28, 1998, in the above-referenced action, alleges,
The Commission's Complaint alleges that during the EOP offering period, Higgins, C. Powell
E. The Commission's Complaint further alleges that during the KGP offering period, Higgins,
In particular, they misrepresented the amount of KGP's returns, the amount of EOP's returns,
the Commission deems it appropriate and in the public interest to impose the sanctions
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