Securities Law Updates | New Releases/No Action Letters
January 25, 2012
Maryland Owner of “Advertising Investment” Companies Pleads Guilty in $6.3 Million Fraud Scheme
U.S. v. Edward J. Lawson
Case No. 8:11cr146, US District Court for the District of Maryland, 12/8/2011
Edward J. Lawson, age 67, of Silver Spring, Maryland has pleaded guilty to wire fraud in connection with a $6.2 million fraudulent investment scheme.
According to his plea, Lawson was the president of “Automated Revenue Creation LLC” and “Guaranteed Results Advertising, LLC” (collectively, GRA). GRA’s investment literature stated that it was in the business of providing advertising through “Narrow Cast television commercials,” purportedly consisting of advertising displayed on LCD television monitors located at convenience stores and gas station pumps.
From May 2006 to September 2008, Lawson made presentations to potential GRA investors at hotels in the Washington, D.C. metro area and…
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