Nevada Attorney General Announces Guilty Plea Of James Yim To Securities Fraud

Dec. 6, 2007 -- Reno — Nevada Attorney General Catherine Cortez Masto announced today the guilty plea in Washoe County District Court of James Yim to securities fraud for making an untrue statement and of failure to disclose a material fact related to the sale of securities. Conviction for such a crime carries a potential penalty of imprisonment from 1 to 10 years in Nevada State Prison and/or a fine of not more than $500,000, and payment of restitution. The case was investigated by the Secretary of State's Office and referred to the Attorney General’s Office for prosecution.

Yim was charged with securities fraud in connection with the operation of Yim Investment Consulting, of improperly selling securities of investors and using the proceeds of those sales to pay personal debts. As part of the guilty plea, Yim agreed to pay 100% restitution to the victims, in the sum of $564,000, on or before the date of sentencing. This case is being prosecuted by the Attorney General’s Bureau of Consumer Protection, under the direction of Consumer Advocate Eric Witkoski. Sentencing is set for March 20, 2008.

Consumer Advocate Eric Witkoski warns investors that any investment promising a high rate of return with little or no risk is probably fraudulent. Before investing in any security or investment, carefully review all required disclosures and investigate the sellers. For more information on how you can help prevent illegal deceptive trade practices and securities fraud you may contact the Nevada Office of the Attorney General, Bureau of Consumer Protection at (775) 684-1169 in northern Nevada, or (702) 486-3194 in southern Nevada.

Source: Nevada Attorney General

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