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Microcap & Penny Stocks : Green Oasis Environmental, Inc. (GRNO) -- Ignore unavailable to you. Want to Upgrade?

To: Charles A. King who wrote (10413)	1/27/1999 7:57:00 AM
From: John Brockman	Read Replies (1) \| Respond to of 13091

Just found this tidbit in my searching sec.gov COMMISSION OBTAINS ORDER OF PERMANENT INJUNCTION AGAINST RONALD REECE The Commission announced today that Judge Patrick Michael Duffy of the United States District Court for the District of South Carolina entered an Order of Permanent Injunction and Other Relief against Ronald V. Reece (Reece) restraining and enjoining him from further violations of Section 17(b) of the Securities Act of 1933 (Securities Act). Reece consented to the entry of the permanent injunction without admitting or denying the allegations of the Commission's complaint. The Order also directed that Reece pay a $10,000 civil penalty within 30 days following the entry of the Order. The Commission's complaint, filed on July 1, 1998, alleges that Green Oasis Environmental, Inc. (Green Oasis) and Carraway published a series of false and misleading press releases prepared by the public relations firm the company retained, owned and controlled by Raymond C. O'Brien (O'Brien). Carraway paid O'Brien and others to publish purportedly objective descriptions about the company and to encourage positive discussion about the company in Internet news groups. Carraway and O'Brien used these false press releases to increase investor interest in the company. Carraway and O'Brien encouraged 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. The complaint seeks a permanent injunction against the defendants Green Oasis and Carraway to prevent their future violations of Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 (Securities Act) and Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder; a permanent injunction against defendant O'Brien to prevent his future violations of Sections 5(a), 5(c), 17(a) and 17(b) of the Securities Act, and Sections 10(b) and 15(a)(1) of the Exchange Act and Rule 10b-5 thereunder; 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. Judge Duffy previously entered an Order of Permanent Injunction against Green Oasis in August 1998. [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-16032)