Replies to post #83 on Penny Scams

[paper_doctor]

GOIH...INJUNCTIVE ACTION FILED

On July 15, the Commission filed an injunctive action against Investment Technology, Inc., of Las Vegas, Nev., its CEO and chairman, Thomas D. Vidmar, 55, of Las Vegas, Nev., and its securities counsel, Ulysses "Thomas" Ware, 42, of Atlanta, Ga., alleging various federal securities laws violations, including violations of the anti-fraud and registration provisions, in connection with an alleged fraudulent scheme involving the company's stock and its purported on-line gambling casino.

The complaint, filed with the United States District Court for the District of Nevada (Southern Division), alleges Vidmar and Ware falsely promoted Investment Technology in press releases and "analyst" reports as a leader in on-line gambling, even though its casino website never received wagers or generated revenues.

The complaint also alleges Vidmar and Ware dumped millions of Investment Technology shares into the manipulated market and collectively realized more than $200,000 in unlawful profits, in part through offerings registered on invalid Form S- 8 registration statements.

The complaint further alleges that Rosenfeld, Goldman & Ware, Inc., Ware's law firm, Small Cap Research Group, Inc., a Georgia corporation, and Centennial Advisors, LLC, a Georgia limited liability company, violated the anti-fraud provisions of the securities laws in connection with the Investment Technology promotions. [SEC v. Investment Technology, Inc., Cause No. CV-S-03- 0831, D.Nev.] (LR-18249)

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