Las Vegas companies searched in securities investigation by state

Thursday, July 24, 2003 | 11:13 a.m.

Two Las Vegas businesses were searched Wednesday in a probe of allegations that they violated the Nevada Securities Act.

Secretary of State Dean Heller said that his office executed a search warrant on Creative Business Solutions and the Nevada Heart and Imaging Centers Inc., owned and operated by Lawrence S. Yanez, 50, and his wife Emily Yanez, 30.

Mr. Yanez and his wife could not be reached for comment.

The Las Vegas businesses are alleged to have violated the Nevada Securities Act and are suspected of securities fraud, unlicensed securities sales and selling unregistered securities, the state said.

The Secretary of State's Securities Division, working in conjunction with other members of the Nevada Investment Fraud Task Force, the FBI, IRS, and U.S. Postal Inspectors, obtained the search warrant after receiving several complaints from alleged victims.

The Secretary of State's Securities Division said Lawrence Yanez allegedly represented to people that he was a day trader and could double investors' money by buying and selling stocks on their behalf.

Lawrence Yanez also allegedly solicited people to invest in Nevada Heart and Imaging Centers Inc., which he said planned to build a body imaging center in Las Vegas, according to the Securities Division. He allegedly told people that they would receive shares of stock and a return rate of 12 percent on their investment, according to the Securities Division.