FOR IMMEDIATE RELEASE
Tuesday, December 30, 2008
Contact: Laura Egerdal, (573) 526-0949
Contact: Ryan Hobart, (573) 526-4734
Carnahan Shuts Down Shady Dealings of Missouri "Investment Club"
Jefferson City, Missouri - Officials in the Securities Division of Secretary of State Robin Carnahan's Office issued a Cease and Desist Order against Gary Doss and his Mark VIII companies for not registering with the state of Missouri.
The order states that a Missouri resident working for Doss and Michael Adamovich invested over $69,000 of her personal funds in a Mark VIII brokerage account. The investor never received records or information regarding the specific investments that Doss, Adamovich and the companies were to make on her behalf.
The investigation revealed that Doss cashed three of the investor's checks totaling over $10,000 that were to go toward her investments. In addition, over $58,000 of the investor's money was deposited by Doss into the business accounts of Mark VIII companies and the funds were used to pay business and personal expenses.
"Before Missourians trust anyone with their hard-earned money, they should make sure that the person offering the investment is properly registered," said Carnahan. "All too often, trusting Missourians are exploited by dishonest people who improperly sell or push investments."
In June of 2007, the investor asked for all her money to be withdrawn and returned, and, as of December 2008, she has not received her money as requested.
Mark VIII Holdings, LLC (Mark VIII) was organized by Gary Doss of Smithville, Mo., and Michael Adamovich of St. Paul, Minn., for the purpose of operating an investment club. International Mark VIII, LLC (Mark International) was organized by Gary Doss to provide consulting services to manufacturing companies. Doss, Adamovich, and their companies are not registered to sell securities in Missouri.
To view the full Cease and Desist order go to: http://www.sos.mo.gov/securities/orders/AP-08-33.asp.
For more information regarding investments and fraud protection, visit the Secretary of State's online Missouri Investor Protection Center at www.MissouriSafeSavings.com or call the toll free Investor Protection Hotline at 1-800-721-7996.
-- 30 --
To find out more about Missouri's Secretary of State's office, visit www.sos.mo.gov
« view more News Releases