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Defendant Sendo was former CEO and the largest shareholder of co-defendant, Internet Money.com, Inc., an Ann Arbor-based start-up company that was purportedly developing a secure Internet payment device. He was also previously convicted of wire fraud. Defendants herein raised at least $440,500 from the sale of common stock to at least 23 investors through false and misleading statements in business plans about the individuals associated with the company. High profile figures that were said to be involved actually were not, and Sendo was portrayed misleadingly. In addition to the relief obtained in this civil injunctive action, Sendo also was barred in an administrative proceeding.