Could someone find out what firm Richard Ames Higgins, a Sandy, Utah attorney worked for at the time?
UNITED STATES SECURITIES AND EXCHANGE COMMISSION LITIGATION RELEASE NO. 16118 \ April 22, 1999 Securities and Exchange Commission v. Anthony J. Marino, Gregory C. Johnson, Richard Ames Higgins, Mousa International, AJM Global, and Consortio Intranacional, Civil Action No. 99-CV-0259G (USDC Utah) The Commission has obtained an order freezing the assets and temporarily restraining Anthony J. Marino and Gregory C. Johnson, Richard Ames Higgins, Mousa International, AJM Global and Consortio Intranacional from making fraudulent sales of unregistered interests in "prime bank" trading programs. It was alleged that the defendants have sold over $15 million in such interests by representing to investors that: they could expect guaranteed returns of 20% per month; the trading program had been approved by the Federal Reserve Board; and investments in the program were insured against loss through a policy issued by Lloyds of London. The Order was entered April 20, 1999 by the Honorable J. Thomas Greene, United States District Judge for the District of Utah and included a clause requiring the defendants to repatriate any assets which had be transferred out of the United States. The complaint named as defendants Anthony J. Marino and Gregory C. Johnson, both of Las Vegas, Nevada, and Richard Ames Higgins, a Sandy, Utah attorney. The complaint also names Mousa International, AJM Global and Consortio Intranacional, entities controlled by one or more of the individual defendants. The complaint alleged that since at least January of 1998, the defendants had engaged in fraudulent sales of interests in a "prime bank" scheme in which they guaranteed a high return to be generated by repeated purchases and sales of financial instruments issued by the world’s "prime banks." Among other misrepresentations, the defendants asserted the investors’ principal was insured through Lloyds of London. The defendants also represented that the Federal Reserve Bank had approved the investment scheme. Further, the Commission alleges that Anthony J. Marino did not disclose to investors that he has been convicted of securities fraud by the State of Nevada and ordered to cease and desist from fraudulently soliciting investments in securities by the State of New Mexico. The Commission alleged that through their false and misleading statements, the defendants violated the antifraud provisions, Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The Commission also alleged that the securities sold by the Defendants were investment contracts which should have been registered pursuant to Sections 5(a) and (c) of the Securities Act of 1933. The Commission wishes to thank the United States Secret Service, the State of Utah Securities Division and the County Attorney’s Office for Utah County, Utah for their assistance in this matter. |
