Archive for August 4th, 2010

SEC: Felons, Recidivists Pushed ‘Green’ Energy Securities Swindle Through California ‘Boiler Room’; 6 People Charged In $11 Million Fraud Case

SEC: Felons, Recidivists Pushed 'Green' Energy Securities Swindle Through California 'Boiler Room'; 6 People Charged In $11 Million Fraud Case

About 200 investors turned over $11 million to a boiler-room operation selling investments in a purported “green” energy company, the SEC said. The alleged swindle in which Kensington Resources Inc. sold unregistered shares of American Environmental Energy Inc. (AEEI) was pulled off by a convicted felon with the help of a recidivist securities offender, the SEC […]

BULLETIN: Montana Declares ACN Inc. A ‘Pyramid Scheme’; Cease-And-Desist Order Issued Amid Allegations Deck Is Stacked Against MLM Participants

BULLETIN: Montana Declares ACN Inc. A 'Pyramid Scheme'; Cease-And-Desist Order Issued Amid Allegations Deck Is Stacked Against MLM Participants

BULLETIN: ACN Inc., a North Carolina-based multilevel-marketing company that bills itself “The World’s Largest Direct Seller of Telecommunication Services,” has been accused by the state of Montana of operating a pyramid scheme. Monica J. Lindeen, Montana’s Commissioner of Securities and Insurance, has issued a cease-and-desist order against ACN and a Notice of Proposed Agency Action. […]