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The Securities and Exchange Commission will be examining Alfred Louis "Bobby" Vassallo again. In August of 2005, the commission entered a final judgment against Vassallo, enjoining him from committing further securities fraud. He had been peddling shares of a dubious Mexican telecom venture, and his investors had been wiped out. Recently, San Diego attorney Oleg Cross wrote U.S. district court to report that once again, Vassallo was soliciting investors for a wireless venture. The shares were not registered. The court responded that if the SEC were interested in looking at him again, it would entertain such a possibility. The SEC said it definitely wanted to interview Vassallo again, partly because he had not paid the $2 million assessed against him for his earlier violations. Vassallo may be in contempt of one or more of the provisions of the final judgment, said the agency.
The Securities and Exchange Commission will be examining Alfred Louis "Bobby" Vassallo again. In August of 2005, the commission entered a final judgment against Vassallo, enjoining him from committing further securities fraud. He had been peddling shares of a dubious Mexican telecom venture, and his investors had been wiped out. Recently, San Diego attorney Oleg Cross wrote U.S. district court to report that once again, Vassallo was soliciting investors for a wireless venture. The shares were not registered. The court responded that if the SEC were interested in looking at him again, it would entertain such a possibility. The SEC said it definitely wanted to interview Vassallo again, partly because he had not paid the $2 million assessed against him for his earlier violations. Vassallo may be in contempt of one or more of the provisions of the final judgment, said the agency.