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Technology Stocks : CSDD -- YourBank Online.com 4/11/99 -- Ignore unavailable to you. Want to Upgrade?

To: Lucky888 who wrote (19)	4/19/1999 3:09:00 AM
From: BG Smith	Read Replies (1) \| Respond to of 27

CSDD: just a wee problem..... From the RB boards: By: PaulKersey Reply To: None Sunday, 18 Apr 1999 at 11:22 AM EDT Post # of 88 SCAM ALERT ! Guess what folks our unscrupulous CEO, Mr. S. Everett Coryell has a history of securities fraud. www2.state.id.us ------------------------------------------------------------------------------------------------------------------------------------ Contact: Marilyn Scanlan Bureau Chief Securities Bureau (208) 332-8004 NEWS RELEASE For Immediate Release March 27, 1996 JUDGMENTS ENTERED IN SECURITIES LAWSUIT Gavin M. Gee, Director of the Idaho Department of Finance, announced today that the Honorable D. Duff McKee, District Judge of the Fourth Judicial District Court in Boise entered judgments against Steven Everett Coryell, Boise, Idaho, and his company, National Investigative Consultants, Inc. (NIC) The Court's action stems from a civil injunctive complaint filed on December 20, 1995, charging that the defendants violated the anti-fraud and registration provisions of the Idaho Securities Act. The defendants admitted the allegations in the complaint which included that they sold securities in the form of stock, distressed loans packages and limited partnership interests to 13 residents of Boise, Meridian, Nampa and McCall. Between 1991 and 1994, the defendants engaged in a series of various securities transactions. Among the allegations made in the complaint, and admitted by defendants, are the following: Steven Coryell assembled packages of defaulted loans which he had acquired from financial institutions. He represented to investors that he would collect on these loans and guaranteed a 25% return on investor money in six months. With one exception, investors lost their entire investment. The second group of transactions involved the sale of stock in a Canadian company traded on the Calgary Stock Exchange. Steven Coryell represented to investors that their money would be given to a named stockbroker for purchase of the shares. Coryell did not forward the investors' money to the stockbroker, nor did he purchase the stock for investors. Rather, Coryell kept the investor money for his own use. The final securities transactions engaged in by defendants was the sale to one investor of a limited partnership interest. Defendant Steven Coryell made numerous misrepresentations to induce this investment. Among these misrepresentations was that the investor's money would be used solely for the partnership's business when in fact, the investor's funds were deposited into defendant NIC's bank account and commingled with and used for Steven Coryell's other businesses. None of the securities, nor defendants, were registered with the Department as required by the Idaho Securities Act. The court's order finds that the defendants violated the securities laws and permanently enjoins them from engaging in such practices in the future. Further, full restitution to investors in the amount of nearly $345,000 was ordered by the court. The case continues against the remaining defendant, Melvin E. Coryell. The Department of Finance advises all individuals to invest only with licensed brokerage firms and to exercise caution in making investment decisions.