(Deming) – The three owners and operators of Savoy Travel Center and Fuel 4 Less have been ordered to pay $375,000 dollars in civil penalties for selling fraudulent securities in New Mexico.
Authorities say a criminal investigation also is underway against the three: 26-year-old Sean Curtis and 50-year-old Bruce Beckner of Deming, and 64-year-old Arthur Herlihy of Santa Fe.
Beckner is known in Deming under his alias, Bill Evans.
Penalties of $125,000 dollars were imposed on each man for selling promissory notes from 2008 through 2010 to raise money for the Savoy truck stop.
Investors were solicited through advertisements. But authorities say the securities weren't registered… the men weren't licensed to sell securities… and the men failed to disclose Beckner's – or Evan’s – previous securities fraud conviction in California.
In 1998, Beckner pleaded guilty to securities fraud and related charges in the United States Federal Court in Los Angeles, California, for stealing over 15.6 million from 559 investors. Beckner was sentenced to 33 months in prison and was ordered to pay restitution to all his victims. Officials with the state Regulation and Licensing Department’s Securities Division said the criminal investigation is looking into allegations that 33 investors were defrauded of five-point-five million dollars in the Savoy case. The Securities Division issued a cease and desist order against Savoy Travel Center, Fuel 4 Less and the three owner/operators in September of 2011.
Authorities say a criminal investigation also is underway against the three: 26-year-old Sean Curtis and 50-year-old Bruce Beckner of Deming, and 64-year-old Arthur Herlihy of Santa Fe.
Beckner is known in Deming under his alias, Bill Evans.
Penalties of $125,000 dollars were imposed on each man for selling promissory notes from 2008 through 2010 to raise money for the Savoy truck stop.
Investors were solicited through advertisements. But authorities say the securities weren't registered… the men weren't licensed to sell securities… and the men failed to disclose Beckner's – or Evan’s – previous securities fraud conviction in California.
In 1998, Beckner pleaded guilty to securities fraud and related charges in the United States Federal Court in Los Angeles, California, for stealing over 15.6 million from 559 investors. Beckner was sentenced to 33 months in prison and was ordered to pay restitution to all his victims. Officials with the state Regulation and Licensing Department’s Securities Division said the criminal investigation is looking into allegations that 33 investors were defrauded of five-point-five million dollars in the Savoy case. The Securities Division issued a cease and desist order against Savoy Travel Center, Fuel 4 Less and the three owner/operators in September of 2011.
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