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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
COMMISSION SUBPOENAS SECURITIES CHERRYWOOD EXCHANGE COMMISSION COURT BOND HALBERT KEEPER COMMISSION ALLEGES TESTIFY FORMAL ORDER COMMISSION STAFF ENFORCEMENT CHERRYWOOD PUBLISHING DISTRICT MASSACHUSETTS REQUIRING VIOLATIONS ACT PAPERS PRIVATE INVESTIGATION ACCORDING FEDERAL SECURITIES LAWS MATERIAL FALSE STATEMENTS STOCK TRADING SYSTEM NEWSPAPER ADVERTISEMENTS SECOND SUBPOENA PARTIES RESPONSIVE DOCUMENTS |
U.S. Securities and Exchange Commission
Litigation Release No. 18359 / September 23, 2003
SEC Files Subpoena Enforcement Action against Gary C. Halbert, Cherrywood
Publishing, Inc. and Others
Securities and Exchange Commission v. Gary C. Halbert, et al. (United States
District Court for the District of Massachusetts, 03-MBD-10284-RWZ)
The Securities and Exchange Commission today filed an action in
Massachusetts federal court to enforce investigative subpoenas against
Gary C. Halbert, Bond Halbert, Cherrywood Publishing, Inc.
("Cherrywood"), and John Doe (a/k/a Cherrywood's Keeper of Records").
The Commission alleges in its application filed with the court that
Gary C. Halbert, Bond Halbert, Cherrywood, and Cherrywood's Keeper of
Records failed to comply with administrative subpoenas requiring them
to produce documents and testify in connection with an investigation
to determine whether they and others may have violated the antifraud
provisions of the Securities Exchange Act of 1934 and the Investment
Advisers Act of 1940.
In its application and supporting papers, the Commission alleges that,
on August 12, 2003, the Commission issued a formal order of private
investigation entitled , File No. B-01967 ("Formal Order"). The Formal
Order directed the Commission staff to undertake a private
investigation to determine if there were violations of the federal
securities laws. According to the Commission's court papers, the
Commission staff is investigating possible material false statements
concerning a stock trading system made by or on behalf of Gary C.
Halbert and Cherrywood in newspaper advertisements that appeared in
and on a website purportedly operated by Gary C. Halbert.
According to the application, the Commission staff issued subpoenas to
Gary C. Halbert, Bond Halbert, Cherrywood, and Cherrywood's Keeper of
Records on August 12, 2003 and issued a second subpoena to Bond
Halbert on August 20, 2003, requiring them to produce documents and
testify concerning matters relevant to the investigation. As of
September 23, 2003, the Commission alleges that the parties have not
produced the responsive documents and have not testified as compelled
by the subpoenas.
_________________________________________________________________
Modified 09/23/2003
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