Volume 1 Number 43
October 25, 2004










TEXT VERSION

 


OFR ASSISTS SEC IN ACTION AGAINST INVESTMENT COMPANY

Florida's Office of Financial Regulation recently assisted the U.S. Securities and Exchange Commission (SEC) in an investigation of Learn Waterhouse, Inc., an investment company with offices in Jacksonville, which led the SEC to order the company to cease and desist selling of investments. The order also froze Learn Waterhouse's assets and appointed a temporary receiver for the company.

SEC officials allege that Texas-based Learn Waterhouse, with principals Randall T. Treadwell, Savannah, Georgia; Rick D. Sluder, Tyler, Texas; Larry C. Saturday, Savannah; Georgia and Anulfo M. Acosta, Pasadena, Texas, raised more than $24 million to fund phony investments. More than 600 Florida investors lost a total of $15.7 million.

The investigation was conducted jointly and involved the SEC, the Florida OFR, the FBI and securities regulators in several states.

Commissioner Don Saxon, Florida Office of Financial Regulation stated, "This investigation is an example of multiple agencies and States successfully teaming against investment fraud. OFR encourages Florida investors who dealt with Learn Waterhouse to come forward and discuss their transactions with them. They may do so by calling upon the Jacksonville investigators at (904) 798-5808."

Potential investors are encouraged to verify that they are dealing with a licensed securities dealer and that investments are registered. For more consumer tips or to file a request for assistance, log on to www.MyFloridaCFO.com.
The Department of Financial Services' toll free consumer helpline is also available at 1-800-342-2762 from 8:00 a.m. to 7:00 p.m. E.S.T., Monday-Friday.
 

The skyline for October is Daytona Beach, photo courtesy of the Daytona Beach Area Convention & Visitors Bureau.