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Post by John Winston Lennon O'Boogie on Oct 29, 2010 17:29:38 GMT -5
Steven Brewer? ==== U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 21715 / October 29, 2010 Securities and Exchange Commission v. Steven Brewer, Adam Erickson, Brewer Investment Group, LLC, Brewer Financial Services, LLC, and Brewer Investment Advisors, LLC, Case 10-cv-06932 (BMM) (N.D. Ill.) SEC Obtains Asset Freeze and Preliminary Injunctions to Halt Offering Fraud by Chicago-Based Broker-Dealer and Investment Adviser The Securities and Exchange Commission announced that, on October 28, 2010, it filed a civil action in the United States District Court for the Northern District of Illinois, Eastern Division, against Brewer Financial Services, LLC ("BFS"), a registered broker-dealer, Brewer Investment Advisors, LLC ("BIA"), a registered investment adviser, Brewer Investment Group, LLC ("BIG"), their parent holding company, and their managing principals/officers, Steven Brewer and Adam Erickson, for allegedly participating in a fraudulent offering of promissory notes. BFS, BIA, and BIG are based in, and Brewer and Erickson reside in, Chicago, Illinois. The Complaint alleges that, from June 2009 through at least September 2010, the defendants raised approximately $5.6 million from 74 investors who invested in promissory notes issued by an Isle of Man company. Although investors were told that their money would be used to repay certain debts of the issuer's parent company, and thereby release assets that would be used to secure their promissory note obligations, the Complaint alleges that nearly all of the offering proceeds were transferred to BIG and its subsidiaries. According to the Complaint, in addition to misrepresenting the manner in which the offering proceeds would be used, the defendants failed to tell investors that BIG and its subsidiaries were in a precarious financial state. In addition to sustaining substantial operating losses from the inception of the offering through the present, BIG had failed to make required interest payments to investors by July 1, 2010, and had failed to meet its own payroll obligations by August 2010. The Complaint alleges that, notwithstanding, and without disclosing, this material information, the defendants continued selling promissory notes to new investors for at least three additional months. According to the Complaint, the note offerings were not registered with the Commission. The Complaint claims that, based on this conduct, all of the defendants violated Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Rule 10b-5 thereunder. The Complaint also claims that BFS violated, and Brewer and Erickson aided and abetted the violation of, Exchange Act Section 15(c), and that BIA violated, and Brewer and Erickson aided and abetted the violation, Sections 206(1) and 206(2) of the Investment Advisers Act. On the Commission's motion, and upon the consent of all defendants, the Court issued Preliminary Injunctions and an Order Imposing Asset Freeze and Other Ancillary Relief ("Order") on October 29, 2010. Among other things, the Court's Order froze certain bank accounts of defendants BIG and BFS. The Commission acknowledges the assistance of FINRA in this matter. See Also: SEC Complaint This have anything to do with our payout....?
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Post by tfant53 on Oct 29, 2010 17:49:37 GMT -5
Steven Brewer? ==== U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 21715 / October 29, 2010 Securities and Exchange Commission v. Steven Brewer, Adam Erickson, Brewer Investment Group, LLC, Brewer Financial Services, LLC, and Brewer Investment Advisors, LLC, Case 10-cv-06932 (BMM) (N.D. Ill.) SEC Obtains Asset Freeze and Preliminary Injunctions to Halt Offering Fraud by Chicago-Based Broker-Dealer and Investment Adviser The Securities and Exchange Commission announced that, on October 28, 2010, it filed a civil action in the United States District Court for the Northern District of Illinois, Eastern Division, against Brewer Financial Services, LLC ("BFS"), a registered broker-dealer, Brewer Investment Advisors, LLC ("BIA"), a registered investment adviser, Brewer Investment Group, LLC ("BIG"), their parent holding company, and their managing principals/officers, Steven Brewer and Adam Erickson, for allegedly participating in a fraudulent offering of promissory notes. BFS, BIA, and BIG are based in, and Brewer and Erickson reside in, Chicago, Illinois. The Complaint alleges that, from June 2009 through at least September 2010, the defendants raised approximately $5.6 million from 74 investors who invested in promissory notes issued by an Isle of Man company. Although investors were told that their money would be used to repay certain debts of the issuer's parent company, and thereby release assets that would be used to secure their promissory note obligations, the Complaint alleges that nearly all of the offering proceeds were transferred to BIG and its subsidiaries. According to the Complaint, in addition to misrepresenting the manner in which the offering proceeds would be used, the defendants failed to tell investors that BIG and its subsidiaries were in a precarious financial state. In addition to sustaining substantial operating losses from the inception of the offering through the present, BIG had failed to make required interest payments to investors by July 1, 2010, and had failed to meet its own payroll obligations by August 2010. The Complaint alleges that, notwithstanding, and without disclosing, this material information, the defendants continued selling promissory notes to new investors for at least three additional months. According to the Complaint, the note offerings were not registered with the Commission. The Complaint claims that, based on this conduct, all of the defendants violated Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Rule 10b-5 thereunder. The Complaint also claims that BFS violated, and Brewer and Erickson aided and abetted the violation of, Exchange Act Section 15(c), and that BIA violated, and Brewer and Erickson aided and abetted the violation, Sections 206(1) and 206(2) of the Investment Advisers Act. On the Commission's motion, and upon the consent of all defendants, the Court issued Preliminary Injunctions and an Order Imposing Asset Freeze and Other Ancillary Relief ("Order") on October 29, 2010. Among other things, the Court's Order froze certain bank accounts of defendants BIG and BFS. The Commission acknowledges the assistance of FINRA in this matter. See Also: SEC Complaint This have anything to do with our payout....? Steven Brewer was a friend of Urban's that did a lot of trading with CMKX and UCAD in the day. This has nothing to do with our payout IMO.
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Post by dljazz on Oct 29, 2010 18:15:32 GMT -5
Steven Brewer? ==== U.S. SECURITIES AND EXCHANGE COMMISSION Litigation Release No. 21715 / October 29, 2010 Securities and Exchange Commission v. Steven Brewer, Adam Erickson, Brewer Investment Group, LLC, Brewer Financial Services, LLC, and Brewer Investment Advisors, LLC, Case 10-cv-06932 (BMM) (N.D. Ill.) SEC Obtains Asset Freeze and Preliminary Injunctions to Halt Offering Fraud by Chicago-Based Broker-Dealer and Investment Adviser The Securities and Exchange Commission announced that, on October 28, 2010, it filed a civil action in the United States District Court for the Northern District of Illinois, Eastern Division, against Brewer Financial Services, LLC ("BFS"), a registered broker-dealer, Brewer Investment Advisors, LLC ("BIA"), a registered investment adviser, Brewer Investment Group, LLC ("BIG"), their parent holding company, and their managing principals/officers, Steven Brewer and Adam Erickson, for allegedly participating in a fraudulent offering of promissory notes. BFS, BIA, and BIG are based in, and Brewer and Erickson reside in, Chicago, Illinois. The Complaint alleges that, from June 2009 through at least September 2010, the defendants raised approximately $5.6 million from 74 investors who invested in promissory notes issued by an Isle of Man company. Although investors were told that their money would be used to repay certain debts of the issuer's parent company, and thereby release assets that would be used to secure their promissory note obligations, the Complaint alleges that nearly all of the offering proceeds were transferred to BIG and its subsidiaries. According to the Complaint, in addition to misrepresenting the manner in which the offering proceeds would be used, the defendants failed to tell investors that BIG and its subsidiaries were in a precarious financial state. In addition to sustaining substantial operating losses from the inception of the offering through the present, BIG had failed to make required interest payments to investors by July 1, 2010, and had failed to meet its own payroll obligations by August 2010. The Complaint alleges that, notwithstanding, and without disclosing, this material information, the defendants continued selling promissory notes to new investors for at least three additional months. According to the Complaint, the note offerings were not registered with the Commission. The Complaint claims that, based on this conduct, all of the defendants violated Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 ("Exchange Act") and Rule 10b-5 thereunder. The Complaint also claims that BFS violated, and Brewer and Erickson aided and abetted the violation of, Exchange Act Section 15(c), and that BIA violated, and Brewer and Erickson aided and abetted the violation, Sections 206(1) and 206(2) of the Investment Advisers Act. On the Commission's motion, and upon the consent of all defendants, the Court issued Preliminary Injunctions and an Order Imposing Asset Freeze and Other Ancillary Relief ("Order") on October 29, 2010. Among other things, the Court's Order froze certain bank accounts of defendants BIG and BFS. The Commission acknowledges the assistance of FINRA in this matter. See Also: SEC Complaint This have anything to do with our payout....? Good evening Mr. Gentleman: Are we ready for update or announcement .
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Post by John Winston Lennon O'Boogie on Oct 29, 2010 18:42:16 GMT -5
This have anything to do with our payout....? Good evening Mr. Gentleman: Are we ready for update or announcement . Yes we are.. Don't only look my way.. Look at this in all the ways.. The bird in the sky may drop the load.. The kid on the bus may bring the smarts. The mailman walking up the drive can fall on us.. Yes we are ready for the load.. Yes we are ready...
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Post by dljazz on Oct 29, 2010 19:06:21 GMT -5
Good evening Mr. Gentleman: Are we ready for update or announcement . Yes we are.. Don't only look my way.. Look at this in all the ways.. The bird in the sky may drop the load.. The kid on the bus may bring the smarts. The mailman walking up the drive can fall on us.. Yes we are ready for the load.. Yes we are ready... games games games we just need to not leave the ship just yet.
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Post by dljazz on Oct 29, 2010 19:30:13 GMT -5
remember THIS IS A FLUID SITUATION
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Post by dljazz on Oct 29, 2010 19:38:48 GMT -5
Shareholders and non shareholders, Do not buy or let your friends, family and co workers buy shares. This ordeal will be pikes until all the court dates are gone...why, insiders making money daily by selling shares. This saga will be dismissed, not because a settlement been reached. It will be dismissed because there is no evidence nor proof of trust. This entire saga was plannned years ago and is being carried out YOU TRULY NEED TO GET A LIFE
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Post by enoughalready on Oct 29, 2010 19:52:43 GMT -5
This was a friend of UC and you don't think it has anything to do with us? It was posted late in the day on a Friday when most people are not paying attention - I think it must have something to do with us..anyone? ====== Steven Brewer was a friend of Urban's that did a lot of trading with CMKX and UCAD in the day. This has nothing to do with our payout IMO.
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Post by diamondogg11 on Oct 29, 2010 23:21:32 GMT -5
remember THIS IS A FLUID SITUATION I'm beginning to feel the "fluid situation" is similar to pi##ing in the wind.. I sure wish AH would come out and refute that post that came out earlier (allegedly his notes).. without any communication (except for false expectations of an update).. it is easy for the negativity to fill the void.. nobody should be surprised to see frustration vented on this and other boards.. jmo
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Post by bricks on Oct 30, 2010 0:36:56 GMT -5
Moderator,
You can delete my account. I am moving on from this board and saga, I wish all well. There are way to many other things to do than to be apart of this board.
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Post by coachphilm on Oct 30, 2010 1:26:03 GMT -5
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Post by marbearcat on Oct 30, 2010 1:34:07 GMT -5
I could be wrong but if that's true then it has to be very good news!
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Post by marbearcat on Oct 30, 2010 1:36:30 GMT -5
Unless of course that "announcement" has nuttin' to do with us.
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Post by mojobean on Oct 30, 2010 1:51:24 GMT -5
WOW!!!!!! That is all I have to say!
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Post by transversal on Oct 30, 2010 1:51:54 GMT -5
I guess "Bricks" had better things to do. Interesting timing.
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