The SEC has taken some action, that I do not see referenced here:
CHARLES LEDFORD BARRED FROM PARTICIPATING IN ANY OFFERING OF PENNY STOCK
On September 29, the Commission instituted administrative proceedings against Charles D. Ledford (Ledford), a resident of Hawthorne, Florida. The Commission simultaneously accepted Ledford's Offer of Settlement, providing for an Order barring him from participating in any offering of a penny stock. The Order alleges that on September 23 a final judgment of permanent injunction was entered, by consent, against Ledford, permanently enjoining him from violations of Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder (SEC v. Charles D. Ledford, Civil Action No. 99-CV-27 SPM, ND Fla.). The Commission's civil complaint alleged that Ledford violated the anti-fraud provisions of the Exchange Act when, from March 1995 through 1997, he issued a series of false and misleading press releases designed to attract new investors to ECO2 and artificially inflate the price of ECO2's publicly traded stock, a penny stock within the meaning of the federal securities laws. ECO2 was a development stage company formerly headquartered in Hawthorne, Florida, and established to provide solid waste tire management services to governmental, commercial and industrial entities through sales of a "tire recovery system" that purportedly utilized a pyrolysis process to recycle scrap tires into oil, carbon black, steel and methane gas by-products. (Rel. 34-41941; File No. 3-10048)
sec.gov |
