Ex-Las Vegas man accused of fraud

Tuesday, Aug. 6, 2002 | 10:54 a.m.

A former Las Vegas resident has been accused of operating a fraudulent scheme in which he promoted six stocks, then sold his own holdings for a $669,000 profit.

The Securities and Exchange Commission is seeking an injunction against Andrew Pope in a lawsuit filed in U.S. District Court in Las Vegas.

Pope and his Miami-based attorney could not be reached for comment.

In court documents filed last week, Pope is accused of disseminating a large number of e-mails publicizing six "microcap" companies between Feb. 8 and May 12, 2000. According to the suit, the e-mails contained false information and misleading statements about Pope's trading intentions, compensation and past performance, stock price projections and the financial condition of the six companies.

Pope promoted UbuyHoldings Inc., formerly known as E-Pawn.com; Hightec Inc., Global Connections Inc., Dimensional Visions Inc., JenaNet.com Inc. and Accufacts Pre-Employment Screening Inc.

Court records say Pope served 18 months in prison after pleading guilty to conspiracy to make counterfeit U.S. currency in August 1993.

In another matter, a Las Vegas stockbroker has been disciplined by the National Association of Securities Dealers for failing to supervise another broker accused of embezzling $2 million from investors in 2000 and 2001.

Michael Moody submitted a letter of acceptance, waiver and consent barring him from association with any NASD member in any capacity for two years. Without admitting or denying allegations, Moody consented to the sanctions, which will conclude June 30, 2004.

Moody, who headed Moody Investment Consultants, had his license suspended by the Nevada Securities Division last year. He was accused of failing to "reasonably supervise" broker Tony Dean Davis when he failed to stop him from making 28 unauthorized third-party wire transfers from customer accounts during an 11-month period.

Moody has said he "had no part in Davis' criminal activity" and he did not sign a consent agreement admitting improper supervision of Davis for fear of future liability.

Moody closed the Las Vegas office in April 2001.