THIS IS A REALLY REALLY REALLY BAD WRONG:
Securities and Exchange Commission release regarding Wilf Blum
Here is the important information everyone needs to know:
Respondents are in default because they did not file an Answer, did not appear at the prehearing conference, and did not otherwise defend the proceeding.......
....The Commission considers the following factors in determining the public interest: (1) the egregiousness of the respondent's actions; (2) whether the violations were isolated or recurrent; (3) the degree of scienter involved; (4) the sincerity of the respondent's assurances against future violations; (5) the respondent's recognition of the wrongful nature of his or her
conduct; and the likelihood that the respondent's occupation will present opportunities for future violations.....
Respondents consented to an injunction based on allegations that during a two-year period, they conducted numerous unregistered offerings and distributions of stock in violation of the federal securities laws.This conduct was egregious and recurrent, resulting in more than $3.2 million in illegally-obtained profits.
4. Additionally, the District Court ordered Blum to pay a civil penalty, in an amount to be determined.......
Respondents have not recognized the wrongful nature of
their conduct, and they have provided no assurances against future violations......
......I ORDER that, pursuant to Section 15(b) of the Securities Exchange Act of 1934, Wilfred R. Blum and Alexander Lindale, LLC, are barred from association with a broker, dealer, investment adviser, municipal securities dealer, or transfer agent, or from participating in an offering of penny stock. I FURTHER ORDER that, pursuant to Section 9(b) of the Investment Company Act of 1940, Wilfred R. Blum and Alexander Lindale, LLC, are unconditionally and permanently prohibited from serving or acting as an employee, officer, director, member of an advisory board, investment adviser or depositor of, or principal underwriter for, a registered investment company or affiliated person of such investment adviser, depositor, or principal underwriter.
Brenda P. Murray
Chief Administrative Law Judge
Link to the entire document:
www.sec.gov/litigation/admin/2012/34-68258.pdf
