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To: Janice Shell who wrote (1826)	12/3/2014 4:29:51 PM
From: StockDung	Respond to of 1827

State: Local biz owners hid securities fraud By Jonathan Horn3:13 p.m.Dec. 2, 2014 Two Escondido business partners must disclose key information about past transgressions when selling stock in their educational companies to investors, says an order released Monday by the California Department of Business Oversight. The order says Gregory Writer and Edward Bracken, who partner in the operation of Club Tuki, BYOU (Be Your Own You), and Children's Educational Network did not disclose previous bankruptcies, censures, and securities fraud that one or the other had committed since 1990 in Kansas and Texas. "You have to disclose all material information to investors so that they can make informed decisions and you can't get much more material than a record of violating securities laws and personal bankruptcy," said Tom Dresslar, spokesman for the department of business oversight. In all, at least 40 investments have been made totaling $513,000. Of those, 13 investors have come from the Golden State. Reached Tuesday, Bracken said his understanding was that disclosures were optional after 10 years, but that he and Writer have corrected the issue. As it stands, the two have 30 days to respond to the order, or it will be final.