- 2002
- $110,000
Defendants allegedly participated in a corporate bond fraud by soliciting institutional investors and lenders to purchase the bonds or to provide margin or commercial loans for the face value of the bonds. The bonds were issued by private Nevada corporations JMC International, Inc. and Northstar, Inc., in an aggregate face value of $500 million, although they were actually worthless. The issuers had no assets or operating income, facts that were materially misrepresented and omitted in the private placement memoranda.
