SECURITIES AND EXCHANGE COMMISSION
LITIGATION RELEASE NO. 17138 / September 19, 2001
SECURITIES AND EXCHANGE COMMISSION v. DANA L. ANDERSON, et al., United States District Court for the District of Colorado, Civil Action No. 92-M-1905 (D. Colo. February 18, 2000)
On February 18, 2000, an order of permanent injunction was entered against Dana L. Anderson of Las Vegas, Nevada by Chief Judge Richard P. Matsch of the U.S. District Court for the District of Colorado. The Commission's 1992 complaint alleged that Anderson engaged in fraudulent conduct involving the securities of a now-defunct corporation, U.S. Mint, Inc. U.S. Mint was in the business of manufacturing gaming tokens for Las Vegas area casinos and destroying used gaming tokens to recover the precious metals. Anderson was charged with, among other things, paying $80,715 in bribes to registered representatives to solicit their involvement in the sale of this microcap stock and with distributing unregistered shares of the stock. In 1997, Anderson was convicted, on his plea of guilty, of one count of securities fraud and was sentenced to a 26-month prison term and fined $50,000.
The complaint alleged that Anderson's conduct violated Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. Anderson consented to the order without admitting or denying the allegations contained in the complaint. Anderson was enjoined from future violations of the registration and antifraud provisions of the federal securities laws, and ordered to pay disgorgement in the amount of $317,839, plus prejudgment interest. Payment of disgorgement and prejudgment interest was waived based upon Anderson's demonstrated inability to pay.
For additional information, see Litigation Release Nos. 13406 (October 8, 1992), 13536 (February 25, 1993), 14550 (June 28, 1995) and 16350 (November 10, 1999).