Man Ordered To Stop Selling Stock
Friday, December 28th 2007, 8:40 am
By: News On 6
OKLAHOMA CITY (AP) _ A Broken Arrow man is being ordered by an Oklahoma County judge to stop selling stock in a company called Airgonomics. The ruling Thursday against Mark Wingo comes after the state Securities Department accused him of fraud and selling unregistered securities.
Click here to read the court ruling.
Securities Department administrator Irving Faught says authorities have found about 18 people who invested just under $200,000 in Airgonomics, which allegedly has developed a power source for electric vehicles.
Faught says Wingo claims there is patented material and that he's working with engineering professors at Oklahoma State. Faught says those claims are apparently not true.
Faught says the investigation began after a complaint by a person who was asked to invest in the company.