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November 16, 2009

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Brief: Man arrested in infomercial scam

Wednesday, Feb. 17, 1999 | 11:14 a.m.

Eric S. Stein, 37, charged with 12 felony counts, is awaiting extradition to Nevada, the state Attorney General's Office said.

Stein was involved with the Sterling Group, which promoted products by direct response infomercials. Prospective investors were given the opportunity to purchase infomercial time with a promise of receiving a portion of the profits from the sale of the products.

The complaint said investors were required to buy "media time" units at $5,000 per unit, with a minimum purchase of two units. Stein is charged with misrepresenting to clients a return of between 25-53 percent within 60-90 days. He is also accused with failing to disclose facts to prospective investors such as the securities were not registered with the state and that he was not licensed by the state as a sales representative.

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