Tuesday, April 28, 1998 | 9:51 a.m.
First they faced a string of civil lawsuits in Las Vegas. Now three people face criminal charges of racketeering, conspiracy and securities violations in an alleged television advertising investment scam.
Ina Bell of Las Vegas was charged and arrested in the case by the Nevada Securities Division.
Also charged, but not apprehended, are Las Vegan Eric S. Stein; Bell's stepfather; and Phil Balestrieri of San Diego.
Stein headed Las Vegas-based Affordable Media LLC, also known as the Sterling Group. The group claimed investors would receive up to a 50-percent return on the purchase of $5,000 units for television advertising touting "impulse" items.
Several civil lawsuits have been filed by disappointed investors from states as far away as Florida and Virginia. Six lawsuits filed in Clark County District Court last week seek to garnish payment from Sterling bank accounts at Bank of America and the Commercial Bank of Nevada.
In an April 15 letter to investors, Stein said the company was experiencing difficulties, but would "rectify this situation shortly." The letter has the company's Las Vegas address on the letterhead, but was postmarked from Denver, according to investor Eddie Tomaszewicz of New Jersey.
"As far as whether Mr. Stein is actually in Colorado, we have not been able to confirm that," said Charles Moore, director of enforcement for the state Securities Division.
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