Intertech Solutions, Inc., William Scott Marshall and David Michael Naylor – Goodman & Nekvasil P.A. May Recover Investor Losses
Securities and Exchange Commission Charges Intertech Solutions, Inc., William Scott Marshall and David Michael Naylor
The Securities and Exchange Commission has charged Intertech Solutions, Inc. and its principals with conducting a multi-million dollar offering fraud.
The SEC alleges that Nevada-based microcap issuer Intertech Solutions, Inc., which purports to be a project finance and management company for mining operations, William Scott Marshall, and David Naylor raised over $7 million from hundreds of investors throughout the United States and Canada. According to the SEC, Intertech, Marshall, and Naylor misled investors about the value of Intertech’s gold mine interest, Intertech’s timeframe for generating revenue, and commission payments Intertech made to securities solicitors. The complaint also alleges that, at Marshall’s direction, Intertech hired numerous individuals to engage in cold-call solicitations of investors. Finally, the SEC alleges that Marshall and Naylor allegedly stole hundreds of thousands of dollars in investor funds, which they used to pay for personal expenses such as such as gym memberships, resort stays, personal medical expenses, and a car Marshall exclusively used.
The SEC’s complaint, filed in federal court in Nevada, charges Intertech, Marshall, and Naylor with violations of the securities registration provisions of Sections 5(a) and (c) of the Securities Act of 1933 and the antifraud provisions of Section 17(a) of the Securities Act and Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934. The complaint also charges Intertech and Marshall with aiding and abetting violations of the broker registration provisions of Section 15(a)(1) of the Exchange Act. Without admitting or denying the SEC’s allegations, Intertech, Marshall, Naylor, and relief defendant West Port Energy LLC, a company formed by Marshall and which allegedly received proceeds of the fraud, have agreed to disgorge nearly $7.4 million in proceeds from the alleged fraud, and Marshall and Naylor have agreed to pay civil penalties of $184,767 and $92,383, respectively. According to the SEC, Intertech, Marshall, and Naylor have also agreed to permanent injunctions, and Marshall and Naylor have agreed to conduct-based injunctions and permanent officer-and-director and penny-stock bars. The settlement is subject to court approval.
Investors in Intertech Solutions, Inc. in May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested in Intertech Solutions, Inc., Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, has recovered more than $180 million dollars on behalf of victimized investors.
All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
If you incurred investment losses with Intertech Solutions, Inc. and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.