Renaissance Mining

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

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.