SECURITIES AND EXCHANGE COMMISSION v. MAVEN CAPITAL CORPORATION, ET. AL., United States District Court for the District of Nevada, Civil Action No. CV-S-99-00501-JBR (LRL)

The Securities and Exchange Commission announced that it filed a civil injunctive action on April 21, 1999, in United States District Court for the District of Nevada, against Maven Capital Corporation ("Maven Capital"), Maven Enterprises, Inc. ("Maven Enterprises"), and Rodd Buckle ("Buckle") of Las Vegas, NV, who is the controlling shareholder and officer of both of those companies, for selling over $3 million worth of unregistered securities while making false and misleading representations to investors. Five other entities controlled by Buckle were named as relief defendants.

The Commission's complaint alleged that the defendants made various material misrepresentations and omissions regarding the use of investor funds. They represented that the proceeds were to be invested in real estate, stocks, and Buckle's gambling business. Instead, Buckle spent most of the money to support his lavish lifestyle and to purchase items such as automobiles and property for himself and the relief defendants.

On April 22, 1999, the Honorable Johnnie B. Rawlinson entered a final judgment of permanent injunction enjoining Maven Capital, Maven Enterprises, and Buckle from future violations of Sections 5 and 17(a) of the Securities Act, Section 10(b) of the Securities Exchange Act, and Rule 10b-5 thereunder. Maven Capital, Maven Enterprises, and Buckle were also ordered to perform accountings and to disgorge amounts yet to be determined with prejudgment interest. In addition, Buckle was ordered to pay a civil penalty to be determined later, and he was barred from serving as an officer or director for any public company. Judge Rawlinson appointed a receiver for Maven Capital, Maven Enterprises, and the five relief defendants, which were also ordered to disgorge amounts yet to be determined. The defendants and relief defendants consented to the entry of the final judgment and order without admitting or denying the allegations contained in the complaint.