From today's SEC Digest:
U.S. ATTORNEY'S OFFICE INDICTS WICHITA, KANSAS, RESIDENT EDWARD WILLIAMSON, III, FOR WIRE FRAUD
On Oct. 23, 2002, the United States Attorney's Office for the District of Kansas, Wichita Division, filed a two count indictment against Wichita, Kansas, resident Edward B. Williamson, III, the owner and controlling officer of Fifth Avenue Communications, Inc. and an undisclosed control person of AutoAuction.com, Inc. The indictment charges Williamson with fraudulently raising money by falsely claiming that AutoAuction.com sold 1,000 cars per month and that the company serviced business clients including Car Max and Auto Nation.
Previously, on Nov. 7, 2000, the Securities and Exchange Commission had filed a civil complaint against Williamson, Fifth Avenue and others alleging that they illegally sold over $1.3 million of unregistered securities to approximately 900 investors nationwide. The SEC's complaint in Securities and Exchange Commission v. Net World Marketing, Inc. et al., Civil Action No. 00-1459WEB (D. Kansas, filed Nov. 7, 2000) is based on the same fraudulent conduct related to AutoAuction.com, as well as a host of other fraudulent claims by Williamson concerning companies he controlled; including Net World Marketing, Inc., Andros Hotel and Casino, Inc., and New Horizons Airways, Inc. For additional information, see Litigation Release No. 16794, Nov. 8, 2000. [U.S. v. Edward B. Williamson, III, Criminal Action No. 02-10150-01-MLB, D. Kansas]; [SEC v. Net World Marketing, Inc., et al., Civil Action No. 00-1459web, D. Kansas] (LR-17847)
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