NASD Registered Person: WILLIAM PRESTON STRONG
CRD Number: 703589
CUSTOMER COMPLAINTS(cont.)
* Disposition Date: The disposition date of the arbitration, reparation
or litigation.
* Summary: Details related to the circumstances of the
complaint.
********************************************************************************
******** CUSTOMER COMPLAINT (1 of 1) ********
Reporting Source: Regulator (Form U-6)
Date Reported: 05/17/1990
Case Filed With: NASD
Date Initiated: 01/01/1989
Case Number: 89-00228
Employing Firm: BRENNAN ROSS SECURITIES, INC.
Allegations: UNAUTHORIZED TRADING; OTHER
Alleged Damages: $28,970.00
Pending?: No
Disposition: Other
Disposition
Date: 05/17/1990
Disposition
Details: AWARD AGAINST PARTY ACTUAL/COMPENSATORY DAMAGES, RELIEF HAS
BEEN AWARDED (PARTIAL OR FULL), AWARD AMOUNT $17,430.26
JOINTLY AND SEVERALLY; INTEREST, RELIEF HAS BEEN AWARDED
(PARTIAL OR FULL
***********************************
Reporting Source: Broker (Form U-4)
Date Reported: 07/29/1994
Date Received:
Employing Firm: BRENNAN ROSS SECURITIES, INC.
Allegations: UNAUTHORIZED TRADING RELIEF ASKED OF $28,970.00
Alleged Damages: $28,970.00
Action Pending?: No
Resolution: Arbitration/Reparation
Resolution
Date:
Arbitration/Reparation
Details: National Association of Securities Dealers, Inc.; 89-00228
Service Date: 01/01/1989
Pending?: No
Disposition: Award to Customer
Disposition
Date: 05/17/1990
Monetary Compensation
Amount: $17,430.26
Disposition
Details: AMOUNT AWARD TO CUSTOMER OF $17,430.36-JOINTLY AND SEVERALLY
Not Provided
************ END OF REPORT ************
Find out more about Brennan Ross Securities
SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 16350 / November 10, 1999
SECURITIES AND EXCHANGE COMMISSION v. BARRY A. BATES, ROBIN A. HEINEY, et al., United States District Court for the District of Colorado, Civil Action No. 92-M-1905 (D. Colo. September 14, 1999)
On September 14, 1999, Chief Judge Richard P. Matsch of the U.S. District Court for the District of Colorado entered orders of permanent injunction and other equitable relief against Barry A. Bates of Kalispell, Montana and Robin A. Heiney of Aurora, Colorado. On September 28, 1992 the Commission filed a complaint alleging that Bates and Heiney engaged in fraudulent conduct involving the securities of a now-defunct corporation, U.S. Mint, Inc.. U.S. Mint was in the business of manufacturing gaming tokens for Las Vegas area casinos and destroying used gaming tokens to recover the precious metals. The complaint further alleged that Bates' and Heiney's conduct violated Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Bates was additionally charged with having violated Rule 10b-6. Bates and Heiney consented to the orders without admitting or denying the allegations contained in the Commission's complaint. The order as to Bates imposed the following relief: (1) an injunction against future violations of the registration and antifraud provisions of the federal securities laws, (2) an injunction against future violations of Rules 101 and 102 of Regulation M, and (3) an order for disgorgement in the amount of $10,381, plus prejudgment interest of $9,627. Heiney was enjoined from future violations of the registration and antifraud provisions of the federal securities laws, and ordered to pay disgorgement in the amount of $10,855, plus prejudgment interest. Payment of disgorgement and prejudgment interest was waived based upon Heiney's demonstrated inability to pay.
The complaint against Bates alleged, among other things, that he accepted undisclosed compensation, in the form of free trading stock, in return for promoting and selling U.S. Mint stock. During 1989 and 1990, the period of the alleged violations, Bates was the president and a 45% owner of Brennan Ross Securities, Inc., a former broker-dealer in the Denver area. Heiney was charged with, among other things, accepting cash bribes in return for promoting and selling this microcap stock. Heiney was a registered representative at Brennan Ross and at National Securities, Inc., another broker-dealer in the Denver area. On January 18, 1995, Heiney was convicted, on his plea of guilty, of one count of securities fraud and was sentenced to five years of probation and ordered to pay a $2,000 fine. The civil action is continuing against defendant Dana L. Anderson.
For additional information, see Litigation Release No. 13406 (October 8, 1992 )
sec.gov
Last update: 11/12/1999 |
