U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 20917 / February 27, 2009
SEC v. Phillip R. Trujillo, Wealth Management Resources, LLC, PTV 22, LLC, PTV 33, LLC, and PTV 44, LLC, Civ. No. 09-cv-00403-MSK-KMT (D. Colo.) (February 26, 2009)
SEC Seeks Emergency Relief to Stop Fraudulent Offering of Unregistered Securities
The Commission charged Phillip R. Trujillo, of Windsor, Colorado, and his company, Wealth Management Resources, a Colorado LLC, with conducting a fraudulent offering of unregistered "units" in three Colorado LLCs, PTV 22, PTV 33, and PTV 44 (PTVs). The Commission alleged that Trujillo induced investors to invest over $5 million based on false representations regarding guaranteed monthly returns, and safety and liquidity of principal. The Commission also alleged that Trujillo continued to make these false representations to later investors after he had already failed to pay promised monthly returns and to refund principal upon the request of earlier investors. Trujillo allegedly induced later investors to invest an additional $1.7 million after defaulting on obligations to earlier investors.
The Commission's complaint alleges that the defendants violated Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder. The Commission is seeking permanent injunctions, disgorgement plus prejudgment interest, and civil penalties against all defendants. The Commission is also seeking emergency relief in the form of a temporary restraining order, preliminary injunction, an order to provide an accounting, an asset freeze, expedited discovery and an order prohibiting the alteration or destruction of documents.
