The Belgium Banking, Finance and Insurance Commission (CBFA), published on June 02, 2010 that the Netherlands Authority for the Financial Markets (AFM) warned consumers not to accept any offers made by Mr. S R Kooij with respect to investment objects namely property investments. The AFM believed that Mr. Kooij had offered and/ or offers investment objects (property investments) without a license and without being able to claim an exemption. The offering of investment objects in the Netherlands without a license or exemption, constitutes a violation of article 2:55 of the Act on Financial Supervision.

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The Illinois Department of Financial and Professional Regulation ordered Mr. Jeremiah N Clement to cease and desist from all loan originating and solicitation activities; Mr. Clement was also ordered to pay a fine of $15,000 for violating the Act and Rules citied herein pursuant to Rules section 1050.2170(a)(2).

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The Illinois Department of Financial and Professional Regulation rejected the renewal application of Mr. Jeffrey Mills as he was found to have violated the Residential Mortgage Silence Act of 1987.

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The New York State Insurance Department on June 09, 2010 charged Mr. Philip Silvernail with insurance fraud in the third degree amounting to $20,546.20. Mr. Silvernail faces up to seven years in state prison.

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On May 7, 2010, the Australian Securities and Investment Commission (ASIC) announced that the court sentenced Mr. Joseph Kieng Ho Wong to five years imprisonment, to be suspended after 18 months. Mr. Wong was charged with misappropriating $330,000 from Austpac Projects Pty Ltd (Austpac Projects) on 13 November 2004. Mr. Wong was sole director of the company at the time of the offence. The court ordered Mr. Wong to pay compensation of $330,000 to Austpac Projects (in liquidation).

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On January 11, 2010, the Securities and Exchange Board of India imposed a penalty of Rs. 66,00,000/- (Rupees Sixty Six Lakh only) on Mr. Chandrakant Amratlal Parekh. It is alleged that Mr. Parekh was involved in the scheme/arrangement of cornering of shares in the IPO of Suzlon Energy Ltd. during the year 2003-2005.

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On June 9, 2010 the Hong Kong Securities & Futures Commission sentenced Mr. Kwok Leung Ng to 240 hours of community services for one charge and ordered to pay investigation costs of $69,268 to the Securities and Futures Commission (SFC) for market manipulation.

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On June 08, 2010, the Securities and Exchange Commission instituted public proceedings against Mr. Duane C Johnson and ordered that he be barred from association with any broker or dealer. The Commission’s complaint also alleged that in connection with the sale of Novus securities, Mr. Johnson misused and misappropriated investor funds, falsely stated to investors that their funds were secure, indicated to investors that investor funds were fully invested and earning returns, and otherwise engaged in a variety of conduct which operated as a fraud and deceit on investors. The complaint also alleged that Johnson sold unregistered securities.

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Comision Nacional del Mercado de Velores issued an public warning that El Toro Consult S.L. and it’s business-related Norbert Grupe is not authorized to provide the investment services in Spain.

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On May 31, 2010, the Securities and Exchange Board of India imposed a penalty of Rs. 75,000/- (Rupees Seventy Five Thousand Only) on Mr. Nilesh H Bhuta for violation of SEBI regulations.

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On June 08, 2010 the Financial Services Authority of United Kingdom charged former stockbroker Mr. David Roger Griffiths Mason with five offences including making misleading statements to investors, conspiracy to defraud and money laundering.

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On June 04, 2010, the Australian Securities and Investment Commission (ASIC) announced that Mr. Kevin Pollock, director of Perth-based property developers, the Pollock Group, has been sentenced in the Supreme Court to five years and four months imprisonment following an investigation by ASIC. Mr. Pollock was convicted on nine charges of breaching section 409 of the Western Australia Criminal Code in relation to fraud involving over $3 million.

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The Federal Reserve Board on June 7, 2010 prohibited Mr. Gregory L Fankhauser from: (a) participating in any manner in the conduct of the affairs of any institution or agency including, but not limited to, any insured depository institution or holding company of an insured depository institution; (b) soliciting, procuring, transferring, attempting to transfer, voting or attempting to vote any proxy, consent, or authorization with respect to any voting rights in any institution; (c) violating any voting agreement previously approved by any Federal banking agency; or (d) voting for a director, or serving or acting as an institution-affiliated party, such as an officer, director, or employee in any institution. It is alleged that Mr. Fankhauser participated in violations of law, unsafe and unsound banking practices, and breaches of fiduciary duty that resulted in Heritage Bank filing call reports that understated the level of past due and nonaccrual loans, including by allegedly changing loan terms without obtaining proper authorization from the bank.

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On May 31, 2010, the Securities and Exchange Board of India imposed a penalty of Rs. 4,00,000/- (Rupees Four Lakhs Only) on Mr. Sunil Purohit for violation of SEBI regulations.

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On June 07, 2010 the Financial Services Authority of United Kingdom gave a final notice to Mr. Stephen Straw, prohibiting him from performing any function in relation to any regulated activity carried on by any authorized person, exempt person or exempt professional firm. It is alleged that, while Mr. Starw was an approved person of Whitehall, he dishonestly submitted 19 life insurance applications to the Scottish Provident, obtaining commission on these policies. As a result, Scottish suffered a loss of £70,000 in commissions. Mr. Straw was sentenced on June01, 2009 to 48 weeks imprisonment, suspended for 24 months on a condition of 250 hours of unpaid work, for these offences.

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