SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 17326 / January 18, 2002
Securities and Exchange Commission v. Oval Financial & Investment Group Ltd. (Case No. 02 CV 0117 K (JFS)).
On January 17, 2002, the Commission filed an application for an order to enforce an investigative subpoena served on Oval Financial & Investment Group Ltd. (Oval) in care of its representative, O. John Valentine. The subpoena sought documents and testimony from Oval relating to the possible fraudulent and unregistered offer and sale of securities by Oval.
Oval has not complied with the subpoena issued by the Commission. In its motion, the Commission argues, among other things, that Oval has no valid justification for its failure to comply. A hearing on the Commission's motion has not yet been scheduled.