Nice find...
Interesting turn of events with GRNO:
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sec.gov
SEC NEWS DIGEST
Issue 98-175
September 10, 1998
COMMISSION OBTAINS ORDER OF PERMANENT INJUNCTION AGAINST GREEN OASIS ENVIRONMENTAL, INC.
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Green Oasis consented to the entry of the permanent injunction without admitting or denying the allegations of the Commission's complaint. William D. Carraway (Carraway) signed the consent on the company's behalf.
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This admission may cost GRNO MILLIONS in damages, and appears that they WILL NEVER TRADE AGAIN! I believe that in CIVIL law when you admit to something like this that it leaves you with no defense in the civil arena. It appears that GRNO left Ron Reece out to dry in the matter.
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Ronald V. Reece (Reece) to publish positive information about the company in numerous Internet news group messages he wrote and in an electronic newsletter he published about the company. In his publications, Reece claimed to be merely an interested investor and denied receiving any consideration from the company. In fact, the company gave Reece a valuable discount on his purchase of the company's securities and paid his travel expenses, all of which he failed to disclose in his publications.
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The SEC appears to be concerned about the FACTs as stated in the above, and not the FACT that he sent out a newsletter. Remember that Ron Reece admitted sending to ANYONE who requested it, and not to just the shareholders. This is way different than the private emails between all the claimed RMIL shareholders, a very far cry!
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-snip-- and a permanent injunction against defendant Reece to prevent his future violation of Section 17(b) of the Securities Act. The complaint also seeks an accounting, disgorgement, prejudgment interest and civil penalties from defendants Carraway and O'Brien and civil penalties from defendant Reece. The commission's complaint also seeks disgorgement from Mary Ann Carraway of the gains from her sales of Green Oasis securities. [SEC v. Green Oasis Environmental, Inc., William D. Carraway, Raymond C. O'Brien and Ronald V. Reece, Defendants, and Mary Ann Carraway, Relief Defendant. Civil Action No. 2:98-1913-23, D.S.C., (LR-15876) |
