My shared discovery regarding @PCTL_ ‘s CEO’s history of defrauding investors is from accurate court SEC affidavits that lists ALL defendants in case, not news digests. The news digest story states “all defendants” while the SEC affidavit states;
Finally, the Complaint alleges that defendants Wagner, Hayes, and Grieco hired defendants Walters, Rogers, Wells, Hosid, and Schell to sell the debentures.
All the defendants allegedly made or caused to be made numerous misrepresentations and omissions of material facts, concerning, among other things, (a) the risks of purchasing the debentures, (b) the financial status of the debenture issuers and (c) an intricate web of self-dealing involving the debenture issuers and defendants Wagener, Hayes, and Grieco.
Simultaneously with the filing of the Commission's Complaint, defendants Grieco, Midwest Engineered Housing, Wells, and Hosid consented to the entry of Final Judgments of Permanent Injunction against them, without admitting or denying the allegations contained in the Commission's Com-plaint.
The Honorable Howard G. Munson, United States District Judge for the Northern District of New York, signed the Final Judgments on June 21, 1979, which (a) enjoined the defendants from violating Sections 5(a), 5(c), and 17(a) of the Exchange Act of 1934 and Rule 10b-5 thereunder, and (b) provided for other equitable relief, including disgorgement and the appointment of a Special Fiscal Agent to oversee the ordered dis-gorgement.
