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November 16, 2009

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Regulators win order against LV businessman

Thursday, June 13, 2002 | 11:07 a.m.

Federal Judge Philip Pro on Tuesday ordered Las Vegas businessman Larry Stockett, who was accused by the Securities and Exchange Commission in April of defrauding penny stock investors out of $1.37 million, to refrain from violating federal securities laws.

Stockett, the owner of defunct cement plant operations, The S.I.N.C.L.A.I.R.E. Group Inc., its affiliate Hightec Inc. and its subsidiaries U.S. Cement Inc. and Basalt Fiber Industries Inc., was accused by the SEC in U.S. District Court of disseminating misleading financial statements about the companies to induce investors to buy Hightec stock.

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