Mr. Gandy is the associate regional director and examinations at US Securities and Exchange Commission.
More importantly, Mr. Gandy was the prosecuting attorney in 2007 for the SEC v. Global Finance Investments, Inc., et al which was Kelly Rogers and his Level Par Ponzi Scheme.
This is significant because Rogers' has clearly violated the terms of his agreed final consent.
Under the agreed terms of the Consent, the Defendant (Kelly G Rogers) agreed to the order that;
(i) permanently restrains and enjoins Defendant from future violations of Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 ("Securities Act") [15 U.S.C. §§ 77e(a), 77e (c) and 77q(a)], and Section 10(b) of the Securities Exchange Act of 1934 (the "Exchange Act") [15 U.S.C. § 78j(b)] and Rule 10b-5 promulgated thereunder [17 C.F.R. § 240.10b-5];
(ii) orders Defendant to pay disgorgement in the amount of $100,000, plus prejudgment interest thereon in the amount of $3,360; and (iii) orders Defendant to pay a civil penalty in the amount of $50,000 under Section 20(d) of the Securities Act [15 U.S.C. § 77t(d)] and Section 21(d) of the Exchange Act [15 U.S.C. § 78u(d)].
Further, it spelled out; "...by using any means or instrumentality of interstate commerce, or of the mails, or of any facility of any national security exchanges, in connection with the purchase or sale of any security;
(a) to employ any device, scheme, or artifice to defraud;
(b) to make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading or
(c) to engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person.
In the "CONSENT OF DEFENDANT KELLY G ROGERS document, on page 5 it simply says;
"If Defendant breaches this agreement, the Commission may petition the Court to vacate the Agreed Final Judgement and restore this action to its active docket".
So SEC, let's get to it!
9 comments:
Many years back my wife and I attended a Bible church where Mr Weyand and Mr Rogers both attended. I know they knew each other.
Does anyone know where Mr Weyand is in all these issues legally? I believe they shared an office in Frisco at one point on the oil investments. How were they connected pertaining to other investments and related to this scam issue?
Yes, Rogers and Weyand went into business sometime around 2004 after Rogers gamed the system to go diamond in Amway but found no money at the diamond level. So after telling all his Amway minions how awesome the money was, he pulled the plug and went looking for money in all the wrong places.
He and Weyand created somewhere between 18-23 corporate entities to do their deals. In summer of 2004, Robbie Gowdey introduced Kelly G Rogers to the Ponzi Scheme called "The Program". Rogers created his own Ponzi scheme called Level Par. His first power-point to promote the scheme was created on 10/28/2004.
Roger started soliciting investors in 2005. He raised some $4.7 million as he and Weyand ran around the US burning and churning investor funds. Was Weyand directly involved in level par? Absolutely yes.
In Spring of 2005, the SEC contacted the offices of Rogers and Weyand to advise that Level Par had been identified as a participant in a Ponzi Scheme. Everyone confronted Rogers who denied it. Weyand, reading the writing on the wall, hired a top notch lawyer to take action against Rogers....thus keeping Weyand out of the cross hairs of the SEC.
And it worked. In the meantime, Weyand conducted all kinds of conference calls, wrote up some wonderful agreements for the investors, promising to personally make up for their losses. While he made some token payments, he would never keep his promise and eventually he would stop sending checks. Coincidentally, the payments stopped once Rogers was convicted by the SEC. Whew, that was close.
It was all to keep up a good image in front of the SEC. Weyand was also playing the public relations game to keep him from getting sued by all the investors.
In the end, the investors got it in the end. Along the way, several people reported that the FBI raided the offices of Weyand and Rogers, taking documents and computers. It was also reported that the IRS was conducting a criminal investigation into Weyand and Rogers. I had heard that Rogers had ratted out Weyand to the IRS to try to get even. Not sure if it worked.
Eventually, Weyand filed bankruptcy, sold his home in the nice Frisco neighborhood and slithered out of the light of day. Was he as guilty as Rogers? Yes. Was he as sleazy as Rogers. Probably not.
But Weyand did start doing business with a convicted Felon who did hard time in a Federal Penitentiary. Ronald Blackburn is one of the scummiest, blood sucking maggots on earth. Weyand was warned all about Blackburn background but decided to ignore the warnings and start some oil and gas deals in Costa Rica with Blackburn. So what does that tell you about him?
Of coarse Rogers continued to raise funds in schemes like JumpLabs where he tried to raise $250,000 from a women in Dallas, to Falcon Enterprises, to Land and Minerals Corporation to Generational Minerals and on and on.
I'm not sure who introduced Rogers and Weyand but that person should be shot.
In rereading my post, it should have been; In spring of 2006, the SEC....
Who warned Weyand about Blackburn? Also WHY would they warn Weyand about Blackburn? It sounds to me they are like two peas in a pod.
Is this him?https://www.facebook.com/richard.weyand.5
Yes, that is Weyand on Facebook. Blackburn and Paul Alonzo (deceased)ran a scam called Phoenix Associated Land Syndicate. They we're raided by the FBI, charged for fraud. Both filed bankruptcy and Alonzo died.
Mail Fraud, Wire Fraud, Securities fraud. http://www.equalizergroup.org/ron-blackburn-scam-con-man-fraud-phoenix-associates-land-syndicate/
http://www.ca5.uscourts.gov/opinions/unpub/13/13-30248.0.wpd.pdf
The questions regarding the person who warned, and reason why, Weyland would be warned against working with Blackburn. They look like perfect, scam artist partners in crime to me.
Correction: The questions [remain] regarding the person who warned, and reason why, Weyland would be warned against working with Blackburn. They look like perfect, scam artist partners in crime to me.
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