Andalusian Resorts and Spas Inc. (fka ARSP)

[Frayed Knot]

John Madsen got a fine of $80,000 for the most recent securities fraud, ARSP.

I assume he will add it to the other Fines/restitutions he hasn't paid.

Both of these are from years ago.

US Dis Court in AZ -Mail Fraud (between 1994-1998 ) Fine of $2.4 MIL and probation 5 years (issued in appx 2005.)

AZ Securities - C&D issued in 2004- plus penalty of $590K , renewed in 2009 - $915K...

This is the SEC recent action.

https://www.sec.gov/litigation/complaints/2017/comp23973.pdf

Ordering Defendants Fried and Madsen to disgorge any and all ill-gotten gains from the
illegal conduct alleged in this Complaint, and to pay prejudgment interest thereon.