SEC charges Marietta company with fraud
November 04, 2013 12:00 AM
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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.
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