SEC v. Albert J. Rasch, Jr., Kathleen R. Novinger, Sandra B. Masino, and 144 Opinions, Inc.

SEC complaint against Albert J. Rasch, Jr., Kathleen R. Novinger, Sandra B. Masino, and 144 Opinions, Inc.

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The SEC complaint alleges that the defendants operated a legal "opinion mill," which issued fraudulent legal opinions used by promoters in a pump-and-dump scheme, and others, to sell securities in violation of the registration provisions of the federal securities laws.

The complaint alleges that Rasch was the sole partner and owner of the Law Firm of Albert J. Rasch and Associates. Novinger was the sole associate at Rasch and Associates. Masino was the sole owner and employee of 144 Opinions.

The defendants cited to non-existent documents and misrepresented critical facts in executing legal opinions. The complaint alleges that the false and misleading statements drafted by Masino and 144 Opinions and thereafter executed by Rasch and Novinger fraudulently induced the transfer agent for Mobile Ready Entertainment Corp. to remove the restrictive legends and permit the illegal sale of over 22 million shares of Mobile Ready Entertainment Corp. in violation of the registration provision of the federal securities laws.

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Reference Info:Pleadings | Federal, 11th Circuit, Georgia | United States


DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Doug Cornelius | Attorney Advertising

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