Just saw this (article below) in the business section of the St. Louis Post Dispatch at:
http://www.stltoday.com/stltoday/business/stories.nsf/story/6ADC7888C 0F7009A8625700B001B74B7?OpenDocument The article says (in paragraph 6) that the company's headquarters are in St. Louis but the administration and accounting offices are in FF. "Quality of Life" sounds like a roo-type name. Does anyone know who George Todt or David Todt are or know anything about Quality of Life Health Corp.? Roo's or not roo's? Marek ** Stock fraud draws suit from SEC By Christopher Carey Of the Post-Dispatch 05/23/2005 The Securities and Exchange Commission has sued the investor- relations specialist for Quality of Life Health Corp., alleging that he orchestrated a fraudulent "pump and dump" scheme involving the company's stock. The SEC obtained a temporary restraining order against George A. Todt of Malibu, Calif., and froze his assets. The SEC alleges that Todt issued press releases containing false claims that boosted Quality of Life's stock, then reaped at least $800,000 in "ill-gotten gains" by selling inflated shares through an account in another name. The agency said he split profits with traders who received Quality of Life shares from him. Todt is a former Cape Girardeau, Mo., businessman. His brother, David Todt, is Quality of Life's chief financial officer and a member of its board of directors. The company uses a St. Louis County address as its headquarters in SEC filings. However, its administrative and accounting offices are in Fairfield, Iowa, and most of its operations also are elsewhere. George Todt did not respond to a request for comment. Neither did Quality of Life or the SEC attorneys in Los Angeles, where the complaint was filed Friday in U.S. District Court. The SEC suit also targeted Jeffrey H. Evans of Napa, Calif.; Ray Slaback of Dakota, Minn.; and seven business entities. Their assets also were frozen. The SEC said in its complaint that from March 2003 until at least October 2004, Todt and others inflated the price of Quality of Life's stock by issuing press releases claiming that the company owned nursing homes worth $60 million. Those claims were repeated on Quality of Life's Internet site. Other press releases discussed the company's revenue and earnings from its nursing home subsidiary. Twice in the period covered by the SEC's suit, Quality of Life's stock shot from roughly 50 cents a share to about $3.50 a share, then slumped back to the earlier level. Quality of Life's shares trade on the over-the-counter market, which largely consists of small companies with limited revenue, assets or operating histories. Quality of Health issued a press release in December 2004 clarifying the acquisition of the nursing homes. The company said the person from whom it had agreed to buy the facilities had only an option to purchase them and ultimately was unable to complete the deal. Quality of Life said last year that it had entered into an agreement in December 2003 with the true owners to take over a select number of the nursing homes. However, its deal to buy or lease seven of the properties was not completed until December 2004. Quality of Life's shares closed Monday at 10.5 cents, up 0.5 cents. The SEC complaint alleges that George Todt orchestrated a second scheme involving four other companies whose shares trade on the OTC market. None is in Missouri or Illinois. The suit says George Todt was involved in distributing false and misleading information about those companies and sought to manipulate the market for shares in three of them. Reporter Christopher Carey E-mail: [EMAIL PROTECTED] Phone: 314-340-8291 To subscribe, send a message to: [EMAIL PROTECTED] Or go to: http://groups.yahoo.com/group/FairfieldLife/ and click 'Join This Group!' Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/FairfieldLife/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
