This guy on RB provides no link to the source for the following article....but FWIW on WTAI:
ragingbull.lycos.com
Federal indictment names four others
By H.G. Meyer
May 31, 2001
An El Cajon couple and four others fleeced investors around the country of more than $46 million, according to a federal indictment unsealed yesterday.
Susan and Charles Browne, a wife and husband listed as officers of Alliance Leasing Corp. of San Diego, were arraigned in federal court. Bail was set at $50,000 apiece. They remained in custody last night, said Assistant U.S. Attorney Daniel Butcher.
The Brownes and four associates based in Florida and Alabama are accused of promising Alliance investors returns of 28 percent to 32 percent through profits from an equipment leasing business they ran from November 1997 to October 1998.
The indictment alleges that Alliance pledged to use 90 percent of its capital on equipment leasing, but it used 40 percent on fees and commissions.
The attorneys for Susan and Charles Browne could not be reached last night.
Susan Browne, 49, and Charles Browne, 59, have a history of securities violations that they illegally concealed from investors, the indictment states. Wisconsin blocked Susan Browne from selling unregistered securities in 1995, and a California Superior Court blocked Susan and Charles Browne from selling securities in 1995, Butcher said.
David Halsey, Braccus Giavanno and Laurence Leafer of Florida and Jonathan Lang of Alabama are expected to surrender in San Diego next week, Butcher said.
Susan and Charles Browne now work at World Transport Authority, a publicly listed company, said Butcher. According to filings with the U.S. Securities and Exchange Commission, the company is an automobile manufacturing concern based in El Cajon. |
