Monday, April 7, 2008
The SEC obtained a jury verdict against stock promoter Cort L. Poyner of Pompano Beach, Fla. The SEC had alleged that Poyner defrauded investors in a California start-up company called The Children's Internet, falsely stating that the company's stock would be listed on a national stock exchange shortly and failing to disclose that he was receiving a 25% commission for selling the stock.
The Commission charged Poyner with fraud and the sale of unregistered securities. Following a three-day jury trial in Oakland, Calif., the jury found Poyner liable on all counts.