(February 22 – 18:00 ET) – The Securities and Exchange Commission has barred a Toronto man, Stephen John Green, 43, from association with any broker, dealer or investment advisor after he pleaded guilty to one count of mail fraud.

The SEC says Green consented to the commission’s action. It reports that on October 19, 2000, Green pled guilty to one count of mail fraud in U.S. District Court for the Eastern District of Oklahoma.

The indictment in that case alleged that from November 1989 until the date of the indictment, “Green and others devised a scheme and artifice to defraud by inducing and causing to induce individuals to send money to the Charter Group Inc. and European Investment Co.”

It further alleges that Green made false representations regarding the nature of purported investments in the Charter Group, EIC, The Charter Fund, and the Global Growth Fund; including that the investors would have access to their funds and that their purported accounts were fully liquid. From January 1990 through February 1996, it says, Green sent false monthly individual investor account statements through the mail.

The SEC found that based on his actions between 1989 and at least 1996, Green acted as a broker without resgistration; that he operated and controlled companies which issued securities and which held themselves out as being engaged primarily in the business of investing in securities; and that he acted as an investment adviser.
-IE Staff