Ah yes, a character reference is in order, I see -
The Securities and Exchange Commission today filed a civil action in the U.S. District Court for the District of Columbia against Members Service Corporation, Philip Sung, John R. Silseth II, Union Securities Ltd., David Gilbert, Todd H. Moore, Charles V. Payne, Wall Street Strategies, Inc., Joseph Lanza, and Kenneth O'Neal alleging violations of the antifraud, registration, and reporting provisions of the federal securities laws.
The complaint alleges that, beginning in 1992, certain defendants issued false and misleading press releases, prepared false and misleading financial statements,
release, Members falsely stated that it had acquired a synthetic blood company - In another press release, allegedly predicted that drilling on its oil and gas properties would generate substantial revenues, but the release failed to disclose that there was no reasonable basis for the prediction.
The complaint alleges that Lanza violated Sections 5(a), 5(c) and 17(a) of the Securities Act, Section 10(b) of the Exchange Act, and Rule 10b-5.
Of course all that is in the past, and has ABSOLUTELY NO BEARING WHATSOEVER AS TO CURRENT EVENTS AT BLACK DRAGON.
The Securities and Exchange Commission announced today that on October 4, 2000, the United States District Court for the District of Columbia entered final judgments as to defendants Philip Sung, Joseph Lanza and Jayne Lanza.
Defendant Joseph Lanza is a stock promoter and resident of Rancho Mirage, California. Joseph Lanza is alleged to have made false and misleading statements in the course of recommending the purchase of Members stock. Without admitting or denying the substantive allegations of the Complaint, Joseph Lanza consented to the entry of a Final Judgment which permanently enjoins him from violating Sections 5(a), 5(c) and 17(a) of the Securities Act and Section 10(b) and rule 10b-5 of the Exchange Act, and which orders him to disgorge $265,214 plus prejudgment interest of $239,085 and which waives payment of the disgorgement and prejudgment interest and imposes no civil monetary penalty based upon his sworn representations concerning his financial condition.
The Commission's Complaint alleges that Joseph Lanza funneled the majority of the funds he received from his participation in the defendants' fraudulent scheme to his wife, relief defendant Jayne Lanza. Without admitting or denying the substantive allegations of the Complaint, Jayne Lanza consented to the entry of a Final Judgment ordering her to pay $250,000 into the Registry of the Court as settlement of the Commission's monetary claims against her. Relief Defendant Jane Lanza was not alleged to have violated any laws.
Oh, and then thwere was this little item:
PALM SPRINGS, Calif.--(BUSINESS WIRE)--Sept. 9, 1998--Airstar Technologies, Inc. (OTCBB: ASTG) herewith announces that the Company has filed a Form 8K with the Securities and Exchange Commission identifying a lawsuit filed by the Company on August 27, 1998 against Joseph Lanza, Jayne Lanza, Mario Lanza, Indian Wells Investment Company (IWIC) and several other entities believed to be owned or controlled by Joseph Lanza.
Then were a few audit discrepancies noted by the authorites re oil production reporting - more recently -
Officer Name Title
MARIO LANZA PRESIDENT
JAYNE LANZA SECRETARY
Organization Red Flags
Effective Date End Date Warning Status Warning Description
04/21/2005 01/19/2005 E I & E COMPLIANCE VIOLATION
12/31/2005 03/13/2006 M MONIES ESCROWED
01/23/2004 03/05/2004 S FORM R-4 SUSPENDED FOR PRODUCTION AUDIT DISCREPANCIES
01/23/2004 03/05/2004 S FORM R-4 SUSPENDED FOR PRODUCTION AUDIT DISCREPANCIES
01/23/2004 01/27/2004 S FORM R-4 SUSPENDED FOR PRODUCTION AUDIT DISCREPANCIES
Of course, NONE OF THIS IS RELEVANT TO TODAY. IT'S ALL BEHIND US.
Happy Friday!
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