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Microcap & Penny Stocks : ABFG - AMERICAN BENEFITS GROUP, INC. -- Ignore unavailable to you. Want to Upgrade?

To: Janice Shell who wrote (2474)	4/23/1999 12:05:00 PM
From: zonkie	Read Replies (1) \| Respond to of 4128

***off topic****** Why do Florida and Colorado seem to be the hotspot for BB scams? Who do we know that has connections to both states? _____________ SECURITIES AND EXCHANGE COMMISSION Washington, DC LITIGATION RELEASE NO. 16116 \ April 21, 1999 Securities and Exchange Commission v. Grady A. Sanders and Erica J. Hull, Civil Action No. 98-2346-LFO (D.D.C.) On April 12, 1999, the Securities and Exchange Commission ("Commission") obtained a federal court order requiring Erica J. Hull ("Hull") of Denver to pay $150,000 in penalties (plus prejudgment interest of $29,876) arising from Hull's fraudulent promotion of a microcap company. The order, entered by the Honorable Louis F. Oberdorfer of the United States District Court for the District of Columbia, enforces payment of penalties previously imposed by the Commission in an administrative proceeding, and was entered against Hull by default. The Commission filed its complaint, pursuant to Section 21(e) of the Securities Exchange Act of 1934 ("Exchange Act") [15 U.S.C. § 78u(e)], on September 30, 1998. The complaint charged that Hull failed to comply with the terms of the prior Commission order imposing civil money penalties issued in In the Matter of New Allied Development Corp., Erica J. Hull, and Grady A. Sanders, Administrative Proceeding File No. 3-8395 (November 26, 1996). The prior Commission order contained findings that Hull and another respondent were responsible for material omissions and fraudulent representations concerning a microcap company's, New Allied Development Corp. ("New Allied"), disclosure statements, made pursuant to Exchange Act Rule 15c2-11, and press releases and concluded that Hull and the other respondent violated the antifraud provisions of the Securities Act of 1933 ("Securities Act") and the Exchange Act, and of Rule 10b-5 thereunder. The Commission imposed remedial sanctions on Hull and required her to pay a civil money penalty of $150,000. After Hull failed to pay the disgorgement and penalty as ordered by the Commission, the Commission initiated this action. For further information on this case, please see Exchange Act Releases 37990 and 34274 and Litigation Release No. 16065.