California Developer to Pay $40,000 to Settle Securities Fraud Case

Hume, Lynn
August 2004
Bond Buyer;8/26/2004, Vol. 349 Issue 31956, p6
Trade Publication
Announces the agreement made by Mojave Valley Resort Inc. of Palm Springs, California, and its co-owner, Mark A. Temple, to pay 40 thousand dollars to settle U.S. Securities and Exchange Commission (SEC) fraud charges for allegedly misleading investors about the security for 12.75 million dollars worth of now-defaulted tax-exempt bonds sold in 1999 to finance the development of a casino and housing project on Indian land near Laughlin, Nevada. SEC [plan to distribute the settlement funds to bondholders.


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