| | Manoucher Sarbaz, Pacific Golf Community Development LLC and Lee Andrew Hill: Lit. Rel. No. 18001 / February 26, 2003 |
 | | Hill is alleged to have provided appraisal reports in support of the municipal securities offerings in which he intentionally or recklessly misrepresented the value of the Rancho Lucerne land pledged as a security for the benefit of the investors who purchased the Rancho Lucerne offerings. |
 | | Following a trial, the district court found that Pacific Genesis Group and Fitzgerald had fraudulently misled investors about the existence of the developer's contracts with merchant home-builders for Rancho Lucerne, and ordered the return of all funds raised in the ninth offering. |
 | | On March 20, 2002, pursuant to a settlement, the district court entered a final judgment against Pacific Genesis and Fitzgerald, entered permanent injunctions against each of them that barred them from selling more bonds on Rancho Lucerne by means of fraud and misrepresentation, and required Fitzgerald to pay $300,000 in disgorgement and civil penalties. |
| www.sec.gov /litigation/litreleases/lr18001.htm (532 words) |