LOS ANGELES (CN) - Three Los Angeles-area men defrauded investors or $4 million by selling bogus shares of Blueray Technologies, a suspended corporation with no valid address, state prosecutors say. And they did this without revealing that Blueray's president had been served with two cease-and-desist orders for selling unregistered shares in another bogus company, according to the complaint in Superior Court.
Erick H. Hansen, whose last known address was in Valencia, is or was president of Blue Ray, which purports to sell high definition optical discs.
Also sued are Matthew Richmond and Bob Reynolds, whose last known addresses are in Los Angeles.
They roped in at least 35 investors through cold calls and over the Internet, prosecutors say, without informing them "that Defendant Hansen was served with two Desist & Refrain Orders by the California Commissioner of Corporations" for selling bogus securities in Hansen Entertainment.
The California Corporations Commission accuses the men and the corporation of fraud and violation of its order.
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