Rhodes Econometrics Fraud
C. Wesley Rhodes, Jr., Rhodes Econometrics, Inc., the Rhodes Company, and Resource Transactions, Inc.: Lit. Rel. No. 20144 / June 5, 2007
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 20144 / June 5, 2007
SEC v. C. Wesley Rhodes, Jr., Rhodes Econometrics, Inc., the Rhodes Company, and Resource Transactions, Inc., Civil Action No. CV06-1353-MO (D. Or.)
Oregon Investment Adviser and His Companies Consent to the Entry of Permanent Injunctions
The Securities and Exchange Commission today announced that C. Wesley Rhodes, age 55 and a resident of West Linn, Oregon, and three Oregon companies he controlled consented to be enjoined from future securities fraud.
The Commission's complaint alleges that Rhodes and his companies raised millions of dollars from individual investors, including many senior citizens, by representing that he would invest their money in stocks and bonds. The complaint further alleges that contrary to representations made to investors, Rhodes did not invest their funds in stocks and bonds. Instead, Rhodes took their money and used it for other purposes,"
