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...in the News |
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Compiled and Edited by the Enforcement Division |
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Dark future expected for SemGroup -
A group of SemGroup LP lenders suggested Wednesday that fraudulent oil trades may have contributed to the company's multibillion dollar debt. The Oklahoman - 7/24/2008
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Judge issues injunction in fraud lawsuit -
OKLAHOMA -- A Tulsa County judge issued an injunction Wednesday against Powder River Petroleum International Inc., an oil company that is accused in a civil lawsuit of defrauding investors of millions of dollars. Tulsa World - 7/24/2008
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SEC files charges against man for alleged $20 million fraud -
SAN FRANCISCO — The SEC moved Wednesday to freeze the assets of Robert C. Brown Jr., 55, a Hillsborough investment adviser who allegedly stole more than $20 million from hundreds of investors, most of them Bay Area residents. [Trebor Co.] InsideBayArea.com - 7/24/2008
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Second minister in pyramid scheme details 'rabbit chase' for money -
MINNESOTA -- Neulan Midkiff and Larry Watkins, the men charged with conning hundreds of Minnesotans, would themselves be conned in a new deal that mirrored the one they were staging in Minnesota. StarTribune.com - 7/24/2008
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Plea deal in Evergreen case -
OHIO -- The sister of former Evergreen Corp. President David Willan has accepted a plea deal. Sandy Langer, 51, who worked in the Evergreen companies, pleaded guilty to two counts of unlicensed sale of securities and one count of securities fraud. Ohio.com - 7/24/2008
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FBI nabs Fidentia fugitive -
SOUTH AFRICA -- William Goodwin, one of the alleged masterminds in the Fidentia scandal, was arrested by the FBI in the United States, the National Prosecuting Authority said on Tuesday. Mail and Guardian - 7/24/2008
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Former Blues owner enters guilty plea -
Former Engineered Support Systems Inc. co-founder Michael Shanahan Sr., also a former owner of the St. Louis Blues hockey team, faces sentencing later this year after pleading guilty to a federal charge for backdating stock options. NewsTribune.com - 7/24/2008
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Ex-Bear Fund Manager Said to Hire Legal Eagle -
NEW YORK -- Veteran U.S. lawyer Brendan Sullivan is joining the defense team of indicted former Bear Stearns hedge fund manager Ralph Cioffi, Reuters reported. NYTimes.com - 7/24/2008
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Cuomo Said to Prepare Fraud Charges Against UBS -
NEW YORK -- The suit, which reportedly may be filed as early as this week, would mark the first case to stem from the state’s investigation into the auction-rate-securities market... NYTimes.com - 7/24/2008
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Texas Could Suspend UBS Over ARS -
The Texas State Securities Board scheduled a Sept. 22 hearing to decide whether to suspend the license of UBS AG's broker-dealer and financial services divisons in response to complaints concerning the liquidity of auction-rate-securities. BondBuyer.com - 7/24/2008
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GCs Bristle at Proposed Disclosure Rules -
Changes proposed by the Financial Accounting Standards Board that would force public companies to disclose more about the risks of litigation have caused a howl of protest among general counsel and corporate and defense lawyers. Law.com - 7/24/2008
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Michelle Singletary Column: Court Ruling Tightens Investors' Safety Net -
The U.S. Court of Appeals for the District of Columbia reversed a lower court that had ruled a stockbroker could have a customer's complaint purged from his record. Washington Post [Free Registration] - 7/24/2008
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Study warns about online banks -
Many banks are unwittingly training online customers to take risks with their passwords and other sensitive account information, leaving them more vulnerable to fraud, new research shows. San Francisco Chronicle - 7/24/2008
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Opinion by Charley Reese: Fool me twice, shame on me -
Like a lot of Americans, I have occasionally received e-mail letters from Nigerian con artists. Nigeria is apparently to Africa what Fort Lauderdale, Fla., is to the United States -- the capital of con artists. TitusvilleHerald.com - 7/24/2008
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Illegal pyramid scheme operating in area -
CANADA -- A pyramid scheme involving a “Women’s Gifting Club” that has bilked one Spruce Grove/Stony Plain resident out of thousands of dollars is operating in Morinville, Gibbons and Sturgeon County, warns Morinville RCMP. FortSaskatchewanRecord.com - 7/24/2008
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Internet Users New Scam Artist Targets -
AN INCREASE in on-line scam operations has prompted law enforcement agencies to warn area residents and businesses against being taken in by deals which, at first glance, appear to be rewarding... FredricksburgStandard.com - 7/24/2008
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Woman charged in Internet scam -
TENNESSEE -- Laurie Ouchaib has been indicted by a Carter County grand jury on charges she had participated in an international Internet scam. TimesNews.net - 7/24/2008
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David Lazarus Column: Fake-check scams can be stamped out -
An FTC spokesman said authorities had seen a big increase in fake-check scams in recent months. "It's really exploded," he said. Los Angeles Times [Free Registration] - 7/24/2008
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How to disappear without a trace -
While faking one's death is illegal, there are people who want to disappear for legitimate reasons, such as women fleeing abusive partners, business people in fear of kidnapping, and celebrities who want to avoid the media. BBC News - 7/24/2008
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Texan pleads guilty in stock fraud case -
Mark Byron Lindberg, 40, pleaded guilty in Tulsa federal court Tuesday to conspiring to commit wire and securities fraud. [Deep Rock Oil & Gas and Global Beverage Solutions, formerly known as Pacific Peak Investments] Tulsa World - 7/23/2008
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The Oklahoma Securities Commission Identifies Traps Likely To Burn Investors This Summer |
Oklahoma City///
- As summer approaches, the Oklahoma Securities Commission (OSC) warns that scam artists are using every trick
under the sun to separate unsuspecting investors from their hard-earned dollars.
Press Release - 06/13/2008
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| Fraud Scene Investigator Program |
Oklahoma City///
– The Oklahoma Securities Commission announces the availability of a free innovative online investor education program, FSI: Fraud Scene
Investigator. The program, will support the Invest Ed™ STARS project by teaching high school students how to fight investment fraud firsthand.
Press Release - 08/13/2007
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Raglin Industries/Divine Develop. |
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Rebates International Indictment |
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Oklahoma City/// A Federal Grand Jury has handed down indictments for Rebates International, Inc. president Terry Hugh Mahon
and Amsterdam Fidelity Business Trust control person Grover Harold Phillips...
Indictment 11/14/2007
Orders & Actions
Related News Articles
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NEW RULE AND AMENDMENTS: |
The following new rule and amendments of the Rules of the Oklahoma Securities Commission and the Administrator of the Department of
Securities (that are codified in Title 660 of the Oklahoma Administrative Code) have been promulgated effective July 1, 2007.
660:11-7-48. Custody requirements [NEW]
660:11-7-41. Record keeping requirements [AMENDED]
OAC Chapter 2, Subchapter 9
660:2-9-1. Hearings in general [AMENDED]
660:2-9-2. Initiation of individual proceedings [AMENDED]
660:2-9-3. Prehearing proceedings and processes [AMENDED]
660:2-9-4. Authority to subpoena witnesses [AMENDED]
660:2-9-6. Conduct of individual proceeding [AMENDED]
660:2-9-7. Record of hearing [AMENDED]
660:2-9-8. Final orders [AMENDED]
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| Oil & Gas Professional Exclusion |
Administrative Order excluding from definition of "investment adviser" certain professionals engaged in the business of exploring for
and/or producing oil and gas or other valuable minerals as an ongoing business...
>>More - 11/16/2004 |
Oklahoma Investment Literacy Survey Results
- In February, 2004, the University of Oklahoma College of Continuing
Education University OUtreach teamed with the Oklahoma Department of
Securities to conduct an “investment literacy” survey among Oklahomans over
the age of 25.
Press Release
- 05/20/2004
Survey Report - 05/20/2004
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