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To: re3 who wrote (145562)	8/15/2002 2:47:51 PM
From: H James Morris	Respond to of 164684

WASHINGTON, Aug 15 (Reuters) - Federal regulators on Thursday said they had sued three companies and seven people, alleging they filed false and misleading registration statements. The Securities and Exchange Commission said it filed civil complaints against Canada's Rhino Ecosystems Inc. <RHNC.OB>, COI Solutions Inc. <COII.OB> and Uncommon Media Group Inc. <UMDA.OB> and the individuals after a two-year FBI sting operation. The SEC also filed a complaint against three other individuals for allegedly carrying out a scheme to pump up the stock of Lifekeepers International Inc. only to sell it soon after. The SEC alleged that Rhino, COI and Uncommon Media filed false annual reports or false registration statements with the SEC as part of fraudulent sales of stock to a fictitious European-based investment fund. The individuals, who are officers or affiliates of the three companies, each schemed to sell securities to the fund in exchange for millions of dollars in kickbacks to be set aside in offshore accounts, the SEC alleged. The Federal Bureau of Investigation sent an agent acting as a fund representative, the SEC said. "The sales of securities were never completed, but in anticipation of the fraudulent sales, the issuer defendants made filings with the commission that contained material misrepresentations and/or omissions in violation of the antifraud provisions of the federal securities laws," the SEC said in a statement. The Woodbridge, Ontario-Rhino, which according to a previous press release makes water treatment systems to recover wet waste solids, declined to comment. Las Vegas-based COI, which it says helps companies to develop electronic solutions for integrating business, marketing and investment planning, also declined to comment, as did an official at Uncommon Media, a New York-based media company. The FBI sting operation also resulted in the indictments of three men, accused of running a pump-and-dump scheme involving Lifekeepers common stock, which was suspended in February 2000. Lifekeepers, which describes itself as a North Palm Beach, Fla., company that performs a range of noninvasive, diagnostic ultrasound testing services that provide early detection of potential health problems, could not be reached for comment. The men allegedly tried to artificially inflate Lifekeepers stock by issuing press releases and other public documents containing materially false and misleading information about the company's operations and financial results, among others. Shares of Rhino last traded at 12 cents on August 9. COI shares were trading at 40 cents and Uncommon Media stock was trading at 3 cents in over-the-counter trading on Thursday. Copyright 2002, Reuters News Service