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SEC Charges DDBO Consulting and CalPacific Equity Group and Principals with Fraud in Sale of Thought Development

SEC Charges DDBO Consulting and CalPacific Equity Group and Principals with Fraud in Sale of Thought Development

SEC Charges DDBO Consulting and CalPacific Equity Group and Principals with Fraud in Sale of Thought Development 150 150 Rex Securities Law

On September 15, 2014, the U.S. Securities and Exchange Commission (SEC) announced that it filed civil actions in U.S. DIstrict Court against three companies, DDBO Consulting, DBBF Consulting and CalPacific Equity Group, and four individuals, Dean R. Baker of Coral Springs, FL, Daniel R. Baker of Valley Village, CA, Bret A. Grove of Delray Beach, FL, and Demosthenes Dritsas of Newhall, CA, in a boiler room scheme that hyped a new technology purportedly to be used in the Super Bowl.

Senior citizens were pressured into purchasing stock in Thought Development (TDI) a Miami Beach company that represented it had a signature invention—a laser line system that generates a green line on the football field for a first down marker that is visible to the players, officials and fans, as well as the TV viewing audience. According to the SEC there was no imminent IPO and over half the money raised was paid to the companies and individuals as sales commissions.

About $1.7 million was raised from 110 people who were told that an initial public offering was imminent.

Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.  Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

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