SEC Charges Colorado Woman and Her Two Companies with Offering Fraud
On August 15, the Securities and Exchange Commission filed a complaint against Heidi Ann Gamer and two companies under her control, Gamer Economic Systems, LLC and Gamer Media Partners Corp. The SEC alleged that between August 2011 and August 2012, Gamer fraudulently sold $771,900 of securities to over three dozen investors. According to the SEC, Gamer intentionally misrepresented to prospective investors that their funds would be used to develop and market interactive technology such as smart-phone applications, and later misinformed investors about non-existent contracts with a college, a football team and the Bollywood film industry. The SEC asserted that Gamer used the funds for personal expenses, rather than for operating capital, violating Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10(b)-5 thereunder. The SEC is seeking a permanent injunction, disgorgement of illicit profits and civil penalties.
Securities and Exchange Commission v. Heidi Ann Gamer, Gamer Economic Systems, LLC, and Gamer Media Partners, No. 1:14-cv-02650-ODE (N.D. Ga.).