RE:TBRX, Madison and Wall WorldWide joins disbarred stock broker from notorious Boiler Room Investors Associates in latest TBRX promotion.
SO WHO IS PROMOTING TBXR GEM OF A STOCK?
"Stephen Apolant, an Investors Associates securities agent from May 1995 to January 1997, was fined $30,000. If Apolant complies with the terms of the Feb. 11, 1999 order, then $20,000 of the civil penalty will be suspended."
Welcome to HOTOTCSTOCKS.com
hototcstocks.com
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TBX RESOURCES INC is a company specializing in production acquisition and developmental drilling. Currently, TBX is initiating an aggressive acquisition and development program.
Steve Apolant (HOTOTCSTOCKS-DOM)
33 Tec Street
Hicksville, NY 11801
US
Domain Name: hototcstocks.com
Administrative Contact, Technical Contact, Billing Contact:
BOZZELLO, TONY (TBN49) tonyb@INTERNETDATACORP.COM
INTERNET DATA CORP
33 TEC ST
HICKSVILLE, NY 11801
516-937-5598 (FAX) 516-937-5478
Record last updated on 25-Jun-2001.
Record expires on 18-Jun-2002.
Record created on 18-Jun-1999.
Database last updated on 20-Jul-2001 05:34:00 EDT.
Domain servers in listed order:
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FOR IMMEDIATE RELEASE:
September 29, 1999
FOR FURTHER INFORMATION CONTACT:
Genene Wiggins, Jennifer Salvato (973) 504-6327
State Fines Four Securities Agents of Hackensack Brokerage Firm
NEWARK-Four securities agents, named in the States 1997 suit against Investors Associates, Inc. ("Investors Associates"), were ordered to pay the State $750,000 in penalties for making unauthorized trades and unlawfully selling unregistered stock, Attorney General John J. Farmer, Jr. and Division of Consumer Affairs Director Mark S. Herr announced today. The State also revoked the registrations of the four agents barring them from working.
The State's final decision, which adopts the initial decision issued by Administrative Law Judge Elinor R. Reiner, ends the prosecution for securities fraud by the Hackensack firm Investors Associates, its principals, and 13 other securities agents. The State sued Investors Associates in May 1997 for allegedly defrauding small investors through unauthorized trades and high-pressure sales tactics.
Vincent Grieco of Vision Global Inc., Mark Blonder, Dennis Vavasis and Keith Grossman are the final defendants named in the May 1997 complaint issued by the Division of Consumer Affairs Bureau of Securities ("the Bureau") under the direction of Securities Chief Franklin L. Widmann. The latest action also ordered the revocation of Vincent Grieco's agent registration. Blonder, Vavasis and Grossmans registrations were revoked in 1997.
The 1997 complaint also alleged that Investors Associates and 13 of its securities agents sold New Jersey customers more than $1 million of unregistered stock of the company, Compare Generiks, Inc. in violation of a 1996 Bureau order.
Without admitting any wrongdoing, Investors Associates; the firms principals, Herman Epstein and Lawrence Penna; and five securities agents entered into agreements with the State earlier this year.
"Before entrusting professionals with their investments, consumers should make sure the person or firm meets the states registration requirements and doesnt have a record of securities violations," Farmer said.
Securities agents for Investors Associates sold high-risk, speculative stock and misrepresented, or just plain left out, the financial perils of making these kind of investments, Herr said, and, unregistered broker-dealers were among those selling these stocks.
Vincent Grieco, the owner/operator of a branch office of Investors Associates from January 1995 through April 1997, was fined $320,000 for 32 violations of the Uniform Securities Law; Blonder, the manager of Investors Associates Melville office who was a registered securities agent in New Jersey from March 1995 to May 1997, was fined $230,000 for 23 violations; Vavasis , an employee of the Melville branch and a registered securities agent in New Jersey from May 1995 to April 1997, was fined $90,000 for nine violations; and Grossman, an employee of the Melville branch and a registered securities agent in New Jersey from May 1995 through 1997, was fined $110,000 for 11 violations of the Uniform Securities Law.
In March 1999, Epstein and Penna and Investors Associates agreed to pay the State $75,000 and to the revocation of Epstein and Pennas agent registrations and Investors Associates broker dealer registration.
Anthony Grieco, the owner/operator of East Coast Alliance, Inc. ("East Coast") in Melville, New York was fined $20,000 and has agreed to cease providing employment or operation services of the type provided to the Melville branch of Investors Associates. If Grieco complies with the terms of the Feb. 24, 1999 order filed with the Bureau, then $17,500 of the civil penalty will be suspended.
Stephen Apolant, an Investors Associates securities agent from May 1995 to January 1997, was fined $30,000. If Apolant complies with the terms of the Feb. 11, 1999 order, then $20,000 of the civil penalty will be suspended.
William Cutrone, who was employed in the Melville, New York branch office of Investors Associates from August 1995 to April 1997, was fined $30,000. If Cutrone complies with the terms of the March 8, 1999 order, then $22,500 of the civil penalty will be suspended.
David Reynoso, was employed at the Great Neck, New York, branch office of Investors Associates and registered as a broker in New Jersey from February 1996 until May 1997, was fined $30,000 If Reynoso complies with the terms of the Feb. 9, 1999 order then $20,000 of the civil penalty will be suspended.
Douglas Mangan, who allegedly carried out hidden control of the Melville branch office of Investors Associates along with Vincent Grieco, was fined $50,000, but if he complies with the terms of the May 2, 1999 order, that civil penalty will be suspended.
Anthony Grieco, Apolant, Cutrone, Reynoso and Mangan have been permanently barred from registration with the Bureau as agents, broker-dealers or investment advisers.
The allegations against John Puglisi, Frank Palazzolo, Raffaele Gambardella, and David Murray have been dismissed without prejudice.
Investors Associates, now defunct, was headquartered at 411 Hackensack Ave., Hacksensack.
Deputy Attorney General John D. Hugelmeyer of the Division of Law handled this case for the State.
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