$14.5 Million Sanction and Permanent Injunction Obtained in Offering Fraud Case

Civil injunctive action charging that, from approximately July 2004 through April 2005, defendant fraudulently offered and sold approximately $9 million of securities to approximately 55 investors in the form of membership interests in limited liability companies that he controlled and operated: Printers Row Investors, LLC, South Beach Investors, LLC, and Tides Hotel Investors, LLC. The investments purportedly were for the purpose of buying old hotels, converting them to hotel-condominiums and selling the hotel-condominium units at a profit, but instead defendant allegedly misappropriated a majority of the investors’ money for personal use.