| PRESS RELEASE |
| STATE REGULATOR INVESTIGATES RAGLIN INDUSTRIES INVESTMENT PROGRAM |
| For Immediate Release |
| Monday, November 20, 2006 |
| Contact: |
Irving Faught, Administrator |
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Oklahoma Securities Commission |
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405-280-7700 |
Oklahoma City///// Irving L. Faught, Administrator of the Oklahoma Department of
Securities, has launched an investigation into the practices of a business based in
Wagoner, Oklahoma. The investigation targets Raglin Industries, Inc., Raglin Industries,
LLC, Phillip Levaughn Raglin and Joseph Daniel Layne (Respondents).
The Department is investigating whether Respondents are involved in the
unlawful offer, sale and/or purchase of securities in and/or from the state of Oklahoma, in
the nature of membership investments in Raglin Industries, LLC. If the Department
determines that Respondents have violated the Oklahoma Uniform Securities Act of 2004
(Act), Okla. Stat. tit. 71, Sections 1-101 through 1-701 (Supp. 2003) and/or the Rules of the
Oklahoma Securities Commission and the Administrator of the Department of Securities
(Rules), action may be taken by the Department in the nature of administrative or civil
sanctions as provided by the Act. |
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| This press release, and related information, is available on the Securities Commission's web site at
securities.ok.gov, by phone at (405) 280-7700, or in writing at:
Oklahoma Securities Commission, First National Center, 120 North Robinson, Suite 860, Oklahoma City, OK 73102. |
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