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U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 22868 / November 13, 2013

Securities and Exchange Commission v. Bobby Jones, Raymon Chadwick, Terry Johnson, Innovative Group, Redwater Funding Group, LLC and Expectrum, LLC, Civil Action No. CV 13-08314-DDP (Ex) (C.D. Cal.)

Commission Files Subpoena Enforcement Action Against Bobby Jones, Raymon Chadwick, Terry Johnson, Innovative Group, Redwater Funding Group, LLC and Expectrum, LLC

On November 8, 2013, the Securities and Exchange Commission filed an application with the United States District Court for the Central District of California for an order to enforce investigative subpoenas served on Bobby Jones of Phoenix, Arizona; Raymon Chadwick of Grand Prairie, Texas; Terry Johnson of Rockwall, Texas; Innovative Group operating in Grand Prairie, Texas; Redwater Funding Group, LLC operating in Grand Prairie, Texas and Expectrum, LLC operating in Rockwall, Texas (the "Respondents").

The Commission's application and supporting papers allege that on June 6, 2013, the Commission issued a Formal Order of Private Investigation entitled In the Matter of Janus Spectrum that authorized its staff to investigate, among other things, whether Janus Spectrum LLC or its affiliates may be involved in the possible offer or sale of unregistered securities, or other violations of the securities laws, in connection with services purportedly provided in connection with licenses issued by the Federal Communications Commission. The subpoenas required the production of documents relevant to the investigation. According to the Commission's application, the Respondents refused to comply with the subpoenas based on several objections, including objections under the First, Fourth, Fifth, and Fourteenth Amendments. In its application, the Commission asserts that none of the Respondents' objections excuse them from producing documents sought by the Commission's subpoenas, and a court order is necessary to compel them to produce the subpoenaed documents.

A hearing on the Commission's application has not yet been scheduled.

 

http://www.sec.gov/litigation/litreleases/2013/lr22868.htm


Modified: 11/13/2013