UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 16136/ MAY 11, 1999
SECURITIES AND EXCHANGE COMMISSION v. PETER ROOR (INDIVIDUALLY AND
On May 10, 1999, the Securities and Exchange Commission obtained a temporary restraining order and other emergency relief to stop seven fraudulent securities offerings that allegedly have bilked thousands of investors worldwide out of more than one million dollars. The relief was granted after the Commission charged three individuals with using websites to promise fraudulently that investors would earn returns of 10% to 400% per month without risk.
Named in the complaint are:
Peter Roor, age 46, a Dutch citizen residing in Amsterdam, Netherlands, who has operated his schemes under the following names: Oxford Savings Club, Ltd. Manumit Unlimited and Top Return on Investment or TROI.
Ronald L. Templin, a 58 year old resident of Kokomo, Indiana, who has operated his schemes under the following names: Secured Private Placements, The 650 Club, Internet Marketing Partners, and Private Party Loan Program.
Laurie Elizabeth Weiss, a 45 year old resident of Waynesville, Missouri, who has touted, and sponsored investors in, the schemes operated by Roor and Templin.
The Commission alleges that defendants told investors that astronomical returns would be obtained by investing victims' money in "secret" foreign trading markets. According to the Commission, the trading markets as described by the defendants do not exist. In each offering, the defendants allegedly promised to pay investors additional returns if they recruited or "sponsored" new investors into the scheme.
Templin also allegedly has been using investor funds for his personal benefit and transferring investor funds to offshore accounts. The court's order temporarily freezes the assets of Templin and Roor and prevents them from further dissipating investor funds.
The Commission alleges that, by engaging in the foregoing conduct, the defendants committed securities fraud in violation of Section 17(a) of the Securities Act of 1933, and Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934. The Commission seeks a final judgment enjoining the defendants from future violations of the federal securities laws, disgorgement of ill-gotten gains plus prejudgment interest, and civil penalties. Against Roor and Templin, the Commission also seeks: (a) a continuation of the asset freeze pending final judgment; (b) an accounting; (c) an order requiring the repatriation of all assets abroad which were obtained by the illegal conduct; (d) an order prohibiting the acceptance or deposit of funds received from investors; and (e) such other equitable relief that may be deemed appropriate.
The litigation is pending.http://www.sec.gov/litigation/litreleases/lr16136.htm