Lines Overseas Management

Order of Detention & USA's Exhibit List in USA v. Treyton Lee Thomas at the U. S. District Court for the Western District of Virginia.

Complaint in BNT Ventures Limited, described as a Canadian company whose "principal shareholder is Wade Wohlford, a citizen of Canada" v. Peter Beckingham, as successor in interest to Mirage Capital Inc., of the Turks and Caicos Islands, at the U. S. District Court for the District of Delaware.

The British Columbia Securities Commission has issued cease trade orders against Bermuda-based brothers Brian and Scott Lines and, in a separate matter, Bahamas-based Gibraltar Global Securities Inc.

Reciprocal Order In the Matter of Brian N. Lines and Scott Lines at the British Columbia Securities Commission.

Plea Agreement in USA v. William S. Reed at the U. S. District Court for the District of Nevada.

Plea Memorandum in USA v. William S. Reed at the U. S. District Court for the District of Nevada.

Any lingering hope anyone had that details of the Bermuda Monetary Authority's investigation into Lines Overseas Management in 2004 2005 would ever become public knowledge faded when LOM settled a fraud complaint brought by the U. S. Securities and Exchange

Devi Johal vs. LOM Securities (Bermuda) Limited - Bermuda Supreme Court

In a final judgment that was approved by a federal judge in Manhattan on Thursday, Lines Overseas Management companies in Bermuda, Bahamas and Cayman Islands and the group's two controlling individuals during the relevant period agreed to pay $2.53 million

Securities and Exchange Commission's Trial Memorandum in a securities fraud lawsuit against Lines Overseas Management, Brian Lines and Scott Lines at the U. S. District Court for the Southern District of New York.

The fraud complaint brought by the U. S. Securities and Exchange Commission against Bermuda based offshore financial services group Lines Overseas Management might be about to settle. On July 2, 2010, the federal court judge overseeing the action at the

Bermuda resident Eric Collins seemingly rues the day he agreed to serve as a director of Consensus Investments Ltd., which the SEC alleges was used to conceal insider trading in penny stock SHEP Technologies by Lines Overseas Management, Scott Lines,

A participant in an alleged securities fraud involving Bermuda based Lines Overseas Management described potential victims - who included LOM's own clients - as "poor lambs" and "sheep", claims the United States Securities and Exchange Commission. The derogatory terms were

A jury trial in a fraud action by the U. S. Securities and Exchange Commission against Bermuda based financial services group Lines Overseas Management could take place as early as next month in Manhattan.In a scheduling order issued on December

Former Lines Overseas Management president Brian Lines has lost an attempt to avoid giving the United States Securities and Exchange Commission a tape recording of a telephone conversation he had nearly seven years ago with SEC attorneys who were looking

A Jamaican fraudster who goes by the name of Emile Maximillion Saint Patrick Higgins and a few variations thereof, including "Sir Max Higgins", has brought a bizarre - and, no doubt, soon to be dismissed - lawsuit in which he

Minister of Finance Paula Cox announced that "Bermuda is engaged in negotiating a further 10 Tax Information Exchange Agreements with OECD states and two with EU states". She also pointed out that Bermuda's TIEA with the United States was signed

Forty-seven individuals and companies in Bermuda, Canada, and the United Kingdom are being asked to provide evidence for a securities fraud civil action brought by the U. S. Securities and Exchange Commission against the Bermuda, Bahamas and Cayman operations of Lines Overseas Management, the group's President, Scott Lines, and its former President, Brian Lines.The witnesses include a stock analyst, newsletter writers, people who allegedly held shares in a nominee capacity for the Lines brothers, former employees of LOM, and officers and directors of two OTC BB-listed companies whose shares LOM allegedly manipulated, namely Sedona Software Solutions, Inc. and SHEP Technologies, Inc.

Following a long regulatory investigation that it went to extraordinary lengths to block through the courts, offshore financial services group Lines Overseas Management has been charged with securities fraud in a civil complaint that was filed yesterday by the United States Securities and Exchange Commission. The defendants include LOM companies in Bermuda, where the group is headquartered; the Bahamas and the Cayman Islands, as well as LOM's President and CEO, Scott Lines, and his brother, Brian Lines, who resigned as LOM's president, effective July 1, 2005, as a result of the SEC investigation. The group's chairman, Brian and Scott's father Donald Lines, is not a defendant.

Complaint alleging securities fraud in U. S. Securities and Exchange Commission v. Brian N. Lines, of Bermuda; Scott G. S. Lines, of Bermuda; LOM (Holdings) Ltd., of Bermuda; Lines Overseas Management Ltd., of Bermuda; LOM Capital Ltd., of Bermuda; LOM Securities (Bahamas) Ltd., of the Bahamas; LOM Securities (Bermuda) Ltd., of Bermuda; LOM Securities (Cayman) Ltd., of the Cayman Islands; Anthony W. Wile, a Canadian residing in Florida; Wayne E. Wile, a Canadian residing in the Cayman Islands; Robert J. Chapman, of Punta Gorda, Florida; William Todd Peever, of Vancouver, Canada; Phillip James Curtis, of Vancouver, Canada, and Ryan G. Leeds, of Boca Raton, Florida, at the U. S. District Court for the Southern District of New York.

David Frank Rowe has become the latest in a long line of former principals of Grenada-licensed banks to admit his involvement in investment fraud in the United States. Rowe, 59, of Brandon, Mississippi, who was indicted as long ago as March 6, 2001, pleaded guilty to one count of wire fraud in a plea agreement at the U. S. District Court for the Northern District of California on December 11, 2007.

A marathon attempt by Bermuda-based investment firm Lines Overseas Management Ltd. and its Managing Director, Scott Lines, to block an SEC fraud investigation is entering a new phase of appeal in the United States.In a ‘Final Order' on February 21, 2007, U. S. District Judge Richard W. Roberts, sitting at the U. S. District Court for the District of Columbia, overruled the objections filed more than two years ago by LOM and Lines to U. S. Magistrate Alan Kay's order on January 7, 2005 that they comply with subpoenas requiring testimony and the production of documents for an investigation into alleged securities fraud involving shares issued by Sedona Software Solutions Inc. and SHEP Technologies Inc., both of Vancouver, Canada.However, in keeping with their practice of challenging every decision that goes against them, LOM and Lines filed a notice on March 27, 2007 that they are appealing the ‘Final Order' to the U. S. Court of Appeals for the District of Columbia Circuit.

A wannabe Bermuda insurer whose license application was turned down in 2004 has resurfaced in Barbados, where it has teamed up with a group whose principals include a convicted criminal. The Barbados Supervisor of Insurance issued an insurance license to River Reinsurance Limited on December 16, 2005. 

A United States court has ordered former insiders of British Virgin Islands incorporated Evergreen Security Ltd. to repay $10.4 million that they received in fraudulent transfers from the unregistered offshore mutual fund before it collapsed in 2001. In a judgment

If a Canadian stock broker had provided the same type of allegedly sham services to the collapsed Canada based Portus Group of hedge funds as those provided by the Cayman Islands operation of Bermuda based investment firm Lines Overseas Management

The former president of Bermuda-based investment firm Lines Overseas Management Ltd. appears to have won his battle to keep potentially incriminating telephone recordings out of the hands of the SEC in the United States.In a ruling on March 23, 2006, Bermuda Court of Appeal allowed Brian Lines' appeal against a decision by Bermuda Supreme Court that LOM must disclose “recordings, transcripts, summaries or excerpts” of telephone conversations made on Lines' extension while he worked for LOM. Justices Zacca, Nazareth, and Sir Murray Stuart-Smith also upheld the lower court's ruling that the SEC was not entitled to any “recordings, transcripts, summaries or excerpts of interviews undertaken” as part of an investigation into LOM by its local regulator, the Bermuda Monetary Authority. The court granted Lines an injunction restraining LOM and its subsidiary, LOM Securities (Bermuda) Ltd., from disclosing material regarding both of these matters to the SEC.

After nearly two years of avoiding it, offshore investment firm boss Scott Lines must finally submit himself to a deposition before the U. S. Securities & Exchange Commission by April 6, 2006. The good news for Lines, however, is that he will not have to travel to the United States, as the SEC had wanted, and face the risk of further civil or even criminal proceedings.

Lines Overseas Management Ltd. has been accused of misleading Bermuda Supreme Court in an attempt to obstruct a securities fraud investigation by the United States Securities and Exchange Commission. The SEC claims that LOM withheld information from the Bermuda court when the firm recently asked for a declaration whether it was allowed, under local law, to comply with administrative subpoenas that the Commission served on the investment firm's Managing Director, Scott Lines, in the United States in April, 2004.

Bermuda-based investment firm Lines Overseas Management Ltd. claims to have started turning over client records to the United States Securities and Exchange Commission after losing yet another court ruling. In a filing at the U. S. District Court for the District of Columbia on February 21, 2006, LOM stated that it “has begun producing documents to the SEC” pursuant to four SEC administrative subpoenas that were served on its Managing Director, Scott Lines, as long ago as April, 2004.

In a landmark ruling, Bermuda Supreme Court has determined that offshore investment firm Lines Overseas Management can disclose “confidential” client records and recordings of telephone conversations to the United States Securities and Exchange Commission. However, the SEC is not entitled to material that is subject to attorney-client privilege or concerns interviews with former LOM president Brian Lines that were conducted by the Bermuda Monetary Authority after the BMA had given assurances of confidentiality.

Prominent offshore businessman Donald Lines has been branded a liar by the United States Securities and Exchange Commission. Lines, the 73-year-old Chairman and President of Bermuda-based investment firm Lines Overseas Management Limited, is adamant that he was not served with a securities-fraud related subpoena while he was in the U. S. in November, 2005 for emergency heart surgery. After the SEC first made the allegation in a filing at the U. S. District Court for the District of Columbia in late December, LOM denied it in a court filing of its own and Donald Lines, a former CEO of the Bank of Bermuda, even went so far as to take out a full-page advertisement in the Bermuda Sun newspaper in which he claimed: “I have never been served a subpoena by the SEC”, adding that: “There has been no contact from the SEC to even notify me that they ever intended to serve any subpoenas or that they, however incorrectly, believed they had served me.”

Bermuda-based stockbroker Lines Overseas Management Limited has secured more time in its increasingly desperate battle to avoid co-operating with securities fraud investigations being conducted by the SEC. In an order on January 13, 2006, the U. S. Court of Appeals for the DC Circuit temporarily stayed a lower court's order that LOM and its Managing Director, Scott Lines, comply with four SEC administrative subpoenas by January 17. The ruling was in response to an emergency motion for a stay, pending an appeal, filed that same day by LOM and Lines.

A hearing is scheduled to take place at Bermuda Supreme Court on Friday to determine whether offshore stockbroker Lines Overseas Management Ltd. is allowed to release client records to the SEC in the United States. The expedited hearing was requested by the LOM group on January 9, 2006 in what appears to be a last-ditch attempt to avoid complying with SEC enforcement subpoenas that were served on it as long as 22 months ago concerning investigations into alleged securities fraud involving shares issued by Sedona Software Solutions Inc. and SHEP Technologies Inc., both of Vancouver, Canada, and HiEnergy Technologies Inc., of Irvine, California.

Bermuda-based investment firm Lines Overseas Management Ltd. and its Managing Director, Scott Lines, have been given until January 17, 2006 to comply with four administrative subpoenas concerning securities fraud investigations by the SEC. The deadline for the provision of testimony and documents was set by U. S. District Court Judge Richard Roberts, sitting at the U. S. District Court for the District of Columbia, on December 30, 2005 when he turned down an application that was filed almost 12 months by LOM and Lines to stay a Magistrate Judge's ruling that it must comply with the subpoenas.

Bermuda-based investment firm Lines Overseas Management Ltd. has denied that it destroyed evidence that is being sought by the SEC for a securities fraud investigation in the United States. LOM has also refuted a claim that the SEC served three administrative subpoenas on LOM's Chairman and President, 73-year-old Donald Lines, on November 10, 2005 while he was in the United States, apparently for an emergency heart operation.

Life just keeps getting worse for offshore financial services firm Lines Overseas Management Ltd., which is headquartered in Bermuda and also has offices in the Cayman Islands, the Bahamas, and England.In June, LOM became a defendant in another civil complaint in the United States, this one concerning a $140 million investment fraud for which LOM allegedly introduced investors and provided at least one account, despite regulatory warnings about the scheme and unsatisfied judgments against its masterminds, one of whom was already an undischarged bankrupt when LOM allegedly became involved.

Brian Lines today became the first management casualty of the SEC's two ongoing securities fraud investigations into Bermuda-based Lines Overseas Management.LOM announced Lines had "retired" as "director, President and employee", effective July 1, 2005, even though he is just 42-years-old.

The U. S. District Court for the Central District of California has granted summary judgment in favor of the SEC and against a publicly-traded firm that was closely associated with a closed-end investment fund that was once listed on the Bermuda Stock Exchange.

Complaint in Christopher R. Barclay, Trustee in Bankruptcy of Midland Euro Exchange, Inc., Midland Euro, Inc., Midland Group, Inc., Moshe Leichner, and Zvi Leichner v. Lines Overseas Management Limited at the U. S. Bankruptcy Court for the Central District Court of California.

Due to a loss of clients and reputation amid a slew of widely-publicized fraud allegations, offshore broker Lines Overseas Management claims to be scaling back its activity in U. S. penny stocks. Effective June 30, 2005, LOM Holdings Limited says the group will "dramatically curtail client activity in the US bulletin board and pink sheet over the counter market".

Offshore investment firm Lines Overseas Management, which is headquartered in Bermuda and has offices in Cayman, the Bahamas and England, claims to have spent US$2.75 million over the last two years on legal fees concerning two securities fraud investigations into its activities by the Securities and Exchange Commission; The International Financial Services Authority in St. Vincent & the Grenadines has revoked these Class I banking licenses: Horizon International Bank Limited, on April 4, 2005; Transglobal Bank Limited, on April 13, 2005; and Triton Capital Bank Limited, on April 13, 2005; How times have changed. On May 26, 2005, something happened that would have been unthinkable when OffshoreAlert was launched in 1997: the Cayman Islands Government issued a press release lauding its co-operation with U. S. authorities in clamping down on financial crime and disclosing that Cayman Islands Chief Justice Anthony Smellie; and OffshoreAlert has unearthed yet another red-flag concerning GISBeX, a Costa Rica-based stock exchange that purports to specialize in securities offered under Regulation S of the Securities Exchange Act in the United States and operates from a web-site at www.gisbex.com.

Bermuda based stock broker Lines Overseas Management has been caught up in yet another securities fraud investigation being carried out by the Securities & Exchange Commission in the United States.LOM was named as a relief defendant in a civil complaint

A penny stock firm controlled by the senior officers of Bermuda-based investment firm Lines Overseas Management reported a net loss of $778,928 for the 12 months ended December 31, 2004, according to its recent 10K filing with the SEC, increasing its deficit to $1.08 million.However, River Capital Group Inc.'s share price soared during the year, hitting a high of $6.50 on the Pink Sheets market, despite the firm having no full-time employees, no revenue and, some would say, no future.

A newsletter writer has "fled" the United States to avoid being questioned by the SEC about alleged securities fraud by offshore investment firm Lines Overseas Management, it has been claimed.The allegation was among new details that were released by the SEC in a filing on March 31, 2005 at the U. S. District Court for the District of Columbia, where the Commission is seeking to enforce four subpoenas served on LOM and its Managing Director, Scott Lines, last year concerning two separate investigations into the trading of shares issued by Sedona Software Solutions Inc. and SHEP Technologies Inc., both of Vancouver, Canada, and HiEnergy Technologies Inc., of Irvine, California.

Three former senior officers of The Harris Organization, which defrauded clients out of tens of millions of dollars before collapsing in 2002, are back in business in Panama. Lawrence George Gandolfi, 65, a.k.a. Larry Gandolfi Christopher Glover Davy, 60, and

The auditor of River Capital Group Inc., which appears to be controlled by investment firm Lines Overseas Management and is associated with ex-Aon (Bermuda) boss Robin Spencer-Arscott, has resigned.No explanation for the resignation of Fort Lauderdale, Florida-based Sweeney, Gates & Co. was given in an SEC filing on March 3, 2005 other than to state there were no accounting disagreements.

For the second time in 57 days, a British Columbia Securities Commission panel has ruled not to ban offshore investment firm Lines Overseas Management from the local market. In a decision on March 4, 2005, the panel determined that, although it was still concerned about LOM's activities, its staff had not met their burden of providing sufficient evidence to justify an order prohibiting LOM, affiliated firms and its senior officers from trading on behalf of undisclosed beneficial owners. However, the panel left open a window of opportunity for its staff by concluding that: "If the Executive Director wishes to pursue the matter, the necessary evidence should be gathered and a notice of hearing issued."

Former Caribbean banker Thierry Nano, for whom there is an outstanding arrest warrant issued at the U. S. District Court for the Southern District of Florida in November, 2001, appears to be involved in a luxury yacht business based in the south of France; Surprisingly enough, given our focus on exposing hard-core, financial crime, OffshoreAlert's staff do not receive as many obscene telephone calls as you might expect; A spokesperson for the British Columbia Securities Commission told OffshoreAlert on February 8 that its staff had not applied for a contempt of court order against Lines Overseas Management at the British Columbia Supreme Court, as a BCSC panel had suggested in a ruling on an enforcement action on January 12, 2005; and Creditors of Terry Lindon who are seeking his assets in the wake of the collapse last June of U. K. litigation funding firm Invaro Ltd. ought to pay a visit to http://www.perfectplaces.com/vacation-rentals/a_Villa_Rentals/4314.htm, where they can see an advertisement for his villa in Machico, Madeira, Portugal, which is available for rent for $300 to $500 per night or $2,100 to $3,500 per week, depending on the season.

Bermuda-based investment firm Lines Overseas Management and its Managing Director, Scott Lines, have applied for a stay - pending an appeal - of a court order requiring them to turn over information to the SEC for use in two investigations into alleged securities fraud. In a joint motion to the U. S. District Court for the District of Maryland, LOM and Lines, claim that, until a final order is rendered, they "cannot lawfully be required to comply" with four SEC subpoenas and, therefore, the effect of a January 7, 2005 ruling by Magistrate Judge Alan Kay ordering them to comply should be stayed until it becomes final.

The British Columbia Securities Commission yesterday dismissed an application for cease trade orders and other sanctions against offshore investment firm Lines Overseas Management Ltd. and its senior officers. However, it was a hollow victory for the respondents since the Commission panel immediately ordered a new hearing to determine whether to ban LOM from the local market for different reasons.