SEC charges Marietta man, his company with securities fraud
by MDJ staff
September 24, 2013 11:55 PM | 1108 views | 1 1 comments | 6 6 recommendations | email to a friend | print
MARIETTA — Stephen L. Kirkland of Marietta and his company, The Kirkland Organization Inc., are being sued in federal court by the Securities and Exchange Commission for allegedly making false and misleading statements to investors in the U.S. and Great Britain.

Between 2008 and 2010, Kirkland and his company repeatedly made false and misleading statements to investors and potential investors, according to the complaint.

One statement was that if they invested with him through a managed account at Westover Energy Trading Partners, LLC, there would be no risk of losing their principal. Investors were told they would also earn 2 to 3 percent per month.

Another statement was that a New York real estate developer/owner was a manager of Westover and that developer’s “substantial wealth” would be used to indemnify investors against loss. Investors in the U.S. and Great Britain invested at least $800,000 based upon those false representations, according to the complaint.

The SEC’s Sept. 23 complaint seeks permanent injunctions, return of ill-gotten gains with prejudgment interest and civil penalties.

Comments
(1)
Comments-icon Post a Comment
kickballjedi
|
September 30, 2013
"Invest with us, you will make money without ANY CHANCE of losing money!" Any 10 year old will tell you that sounds fishy, why couldn't these adults?
*We welcome your comments on the stories and issues of the day and seek to provide a forum for the community to voice opinions. All comments are subject to moderator approval before being made visible on the website but are not edited. The use of profanity, obscene and vulgar language, hate speech, and racial slurs is strictly prohibited. Advertisements, promotions, and spam will also be rejected. Please read our terms of service for full guides