SEC files administrative action against Gary Pierce and CSI Ag

The United States Securities and Exchange Commission has commenced cease-and-desist proceedings against Turks & Caicos Islands-registered CSI Ag and its principal, Gary J. Pierce, of Studio City, California.
From July, 1997 to February, 1999, Pierce and CSI solicited investments in a $500 million unregistered bond offering for the Government of Free Vietnam, which is a political association in Garden Grove, California, via its Internet web-site and its newspaper, according to the SEC in its administrative complaint.