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!
