The following is the text of a news release dated January 14, 2014, by the Arizona Corporation Commission:<\/p>\n
\nThe Arizona Corporation Commission today sanctioned a former securities salesman who committed securities fraud by offering and selling fake stock shares to investor s. In a separate case, the Commission denied an investment adviser representative license to a former securities salesman who provided incomplete, inaccurate and misleading information on his application.<\/p>\n
James F. Liebes<\/strong><\/p>\n
The Commission ordered former securities salesman-dealer James F. Liebes of Paradise Valley and his affiliated company, Lanesborough Financial Group, LLC, to pay $684,725 in restitution and a $75,000 administrative penalty for committing securities fraud. The Commission found that Liebes and Lanesborough Financial Group\u2019s representation of owning restricted shares in a publicly traded company and options to purchase shares was false as the company had no records indicating Liebes owned the common stock that he had agreed to sell. The Commission found that Liebes and Lanesborough Financial Group were not registered to offer or sell securities in Arizona when they entered into agreements to sell investor s the company shares. Further, the Commission found that Liebes and Lanesborough Financial Group failed to disclose to investors that the Commission\u2019s Securities Division had already filed a case against them for offering and selling securities without being registered. For more details about this case, view the full text of the Commission\u2019s order S-20876A-13-0407 .<\/p>\n
Jon Joseph Bauman<\/strong><\/p>\n
In a separate matter, the Commission denied an investment adviser representative license for Phoenix resident and former securities salesman, Jon Joseph Bauman. The Commission denied the license since Bauman\u2019s application contained incomplete, inaccurate and misleading information. Additionally, the Commission found that Bauman had been barred from association with any member in any capacity of the Financial Industry Regulatory Authority (FINRA) for failing to provide information requested by FINRA. For more details about this case, view the full text of the Commission\u2019s order S-20895A-13-0377 . The Commission\u2019s final order against the named respondents will be posted online as soon as it is signed by all of the Commissioners.<\/p>\n<\/blockquote>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
The following is the text of a news release dated January 14, 2014, by the Arizona Corporation Commission: The Arizona Corporation Commission today sanctioned a former securities salesman who committed securities fraud by offering and selling fake stock shares to investor s. In a separate case, the Commission denied an investment adviser representative license to a former securities salesman who provided incomplete, inaccurate and misleading information on his application. James F. Liebes The Commission ordered former securities salesman-dealer James F. Liebes of Paradise Valley and his affiliated company, Lanesborough Financial Group, LLC, to pay $684,725 in restitution and a $75,000 administrative penalty for committing securities fraud. The Commission found that Liebes and Lanesborough Financial Group\u2019s representation of owning restricted shares in a publicly traded company and options to purchase shares was false as the company had no records indicating Liebes owned the common stock that he had agreed to sell. The Commission found that Liebes and Lanesborough Financial Group were not registered to offer or sell securities in Arizona when they entered into agreements to sell investor s the company shares. Further, the Commission found that Liebes and Lanesborough Financial Group failed to disclose to investors that the Commission\u2019s Securities Division had already filed a case against them for offering and selling securities without being registered. For more details about this case, view the full text of the Commission\u2019s order S-20876A-13-0407 . Jon Joseph Bauman In a separate matter, the Commission denied an investment adviser representative license for Phoenix resident and former securities salesman, Jon Joseph Bauman. The Commission denied the license since Bauman\u2019s application contained incomplete, inaccurate and misleading information. Additionally, the Commission found that Bauman had been barred from association with any member […]<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[18,45],"tags":[],"class_list":["post-6738","post","type-post","status-publish","format-standard","hentry","category-arizona-corporation-commission","category-llcs-securities-laws"],"yoast_head":"\n
Arizona Corporation Commission Takes Action Against Man Who Sold Fake Shares of Company Stock - Arizona LLC Law %<\/title>\n<meta name=\"description\" content=\"Arizona Corporation Commission press release dated January 14, 2014.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.keytlaw.com\/azllclaw\/2014\/01\/fake-stock\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Arizona Corporation Commission Takes Action Against Man Who Sold Fake Shares of Company Stock\" \/>\n<meta property=\"og:description\" content=\"Arizona Corporation Commission press release dated January 14, 2014.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.keytlaw.com\/azllclaw\/2014\/01\/fake-stock\/\" \/>\n<meta property=\"og:site_name\" content=\"Arizona LLC Law\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/www.facebook.com\/keytlaw\" \/>\n<meta property=\"article:author\" content=\"http:\/\/www.facebook.com\/keytlaw\" \/>\n<meta property=\"article:published_time\" content=\"2014-01-14T20:31:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-07-04T17:27:15+00:00\" \/>\n<meta name=\"author\" content=\"Richard Keyt\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Richard Keyt\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/2014\\\/01\\\/fake-stock\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/2014\\\/01\\\/fake-stock\\\/\"},\"author\":{\"name\":\"Richard Keyt\",\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/#\\\/schema\\\/person\\\/9d6c74d30296559f95e238fa25182391\"},\"headline\":\"Arizona Corporation Commission Takes Action Against Man Who Sold Fake Shares of Company Stock\",\"datePublished\":\"2014-01-14T20:31:28+00:00\",\"dateModified\":\"2019-07-04T17:27:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/2014\\\/01\\\/fake-stock\\\/\"},\"wordCount\":361,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/#organization\"},\"articleSection\":[\"AZ Corporation Commission\",\"LLCs & Securities Laws\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/2014\\\/01\\\/fake-stock\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/2014\\\/01\\\/fake-stock\\\/\",\"url\":\"https:\\\/\\\/www.keytlaw.com\\\/azllclaw\\\/2014\\\/01\\\/fake-stock\\\/\",\"name\":\"Arizona Corporation Commission Takes Action Against Man Who Sold Fake Shares of Company Stock - 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