1995 Rolls Royce Silver Spur IIIEver wanted to own a luxury car that's usually reserved for royalty and foreign dignitaries? Now you can get the chance at a beautiful 1995 Rolls Royce Silver Spur III now currently available for online auction courtesy of the U.S. Marshals. This handcrafted luxury vehicle comes standard with power windows, power windows, power seats, power door locks, power brakes, cruise control, air conditioning, leather seating, hardtop roof, AM/FM radio, CD changer in the trunk, factory brand stereo, alarm system, premium factory wheels, and just over 31k miles. The vehicle itself is in fantastic aesthetic condition both inside and out, but only requires a new battery in order to be up and running again. The current asking price for this Rolls Royce is just $23,500 with no bids as of yet. The car is currently being held in Las Vegas, and the auction will be ending in just a few short weeks so be sure to activate your 3-day free trial account now.

Wednesday, March 25, 2015

Federal Court Orders Massachusetts Based BioChemics to Pay Over $17 Million

Today, the SEC ordered BioChemics, Inc, a biopharmaceutical company based in Danvers, Massachusetts to pay over $17 million. The enforcement action was originally filed on December 14, 2012 against BioChemics, John J. Masiz, the company's founder and, until January 2014, its President, CEO, and Chairman of its Board of Directors; Gregory S. Kroning, a promoter; and a Craig Medoff, another promoter and, at one point, BioChemics' interim director of Finance.

From 2009 to mid-2012 BioChemics raised $9 million from 70 investors by providing misleading information about pharmaceutical companies and drugs the company had under FDA review. In actuality, the company never had any drugs under review. The company also lied about the results of clinical trials as well as purported valuations that the company was worth between $500 million and $2 billion. Additionally, investor dollars were used to pay for Masiz' and Kroning's personal expenses.

Masiz, the company's founder, was the subject of prior SEC enforcement action in 2004, which he never disclosed.

The judgment entered today requires the company to pay disgorgement of $15 million, prejudgement interest of $2 million, and a civil penalty of $750K.

The SEC also has a case against each individual in this action.

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