Huttoe, his family, & SGA are all animals..
COMPLAINT FILED AGAINST CHARLES HUTTOE, ET AL.
The Commission filed on November 7 a complaint and applications for
a temporary restraining order, preliminary injunction and other
emergency relief against Charles O. Huttoe (Huttoe), Huttoe &
Associates, Inc., Word Corporation, National Trading Services, Inc.,
Karen Purvis, also known as Karen Purvis Huttoe, Tammy Jo Perkins,
Josephine Brooks, SGA Goldstar Research Inc., Theodore R. Melcher,
Jr., Shannon B. Terry, Systems of Excellence, Inc., Alpha Securities
Ltd., and Dunbar Holdings Ltd. in the United States District Court
for the District of Columbia. The Complaint alleges a massive and
ongoing market manipulation orchestrated by Huttoe, Chairman of the
Board and Chief Executive Officer of SOE, a manufacturer and
distributor of video teleconferencing equipment with offices in
McLean, Virginia and Coral Gables, Florida. The Commission alleges
that Huttoe secretly distributed millions of SOE shares to his
family members and corporations, manipulated the market by issuing
false favorable information concerning SOE and its business and
through fraudulent stock promotion by SGA Goldstar Research, Inc.,
and then sold his shares into the inflated market. The complaint
further alleges that Huttoe engaged in a massive coverup after SOE's
auditors discovered evidence of his unregistered distribution of
securities, and raised questions concerning it in mid-September,
1996. As a result, the Complaint alleges that defendants variously
violated the securities registration, antifraud, anti-touting, and
other provisions of the securities laws. Previously, on October 7,
the Commission issued an Order suspending trading in SOE securities
for ten days. For further information, see Securities Exchange Act
Rel. No. 37791 (October 7, 1996). The Commission's investigation in
this matter is continuing. [SEC v. Charles O. Huttoe, et al., Civil
Action No. 96-CV-02543, GK, D.D.C.] (LR-15153) |
