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SECURITIES & EXCH. COM'N v. KOSCOT INTERPLANETARY, INC.

Civ. A. No. 17134.

365 F.Supp. 588 (1973)

SECURITIES AND EXCHANGE COMMISSION v. KOSCOT INTERPLANETARY, INC., a Florida corporation, et al.

United States District Court, N. D. Georgia, Atlanta Division.

April 19, 1973.

Attorney(s) appearing for the Case

David J. Romanski, John M. Kelley, Jennie H. Randolph, James Edgar Long, Securities & Exchange Commission, Atlanta, Ga., Richard E. Nathan, Asst. General Counsel, Securities & Exchange Commission, Washington, D. C., for plaintiff.

Tew, Tew, Rozen & Murray, Miami, Fla., Hull, Towill, Norman, Barrett & Johnson, Augusta, Ga., for defendants Koscot, Glenn W. Turner Enterprises, Atkinson, Carroll, and Hubbard.

Theodore I. Koskoff, Bridgeport, Conn., for Glenn Wesley Turner.

John A. Burgess, Montpelier, Vt., for Wilder.

SIDNEY O. SMITH, Jr., Chief Judge.

The Securities and Exchange Commission seeks an injunction against violation of the federal securities laws and other relief. More specifically, the SEC wishes to bar defendants from marketing their products through a program which the SEC characterizes as a pyramid-selling scheme. The Commission urges that the sale of an opportunity to participate in such a pyramiding operation amounts to selling a security within the meaning of...

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