Sunday Gazette-Mail from Charleston, West Virginia on June 16, 1974 · Page 18
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Sunday Gazette-Mail from Charleston, West Virginia · Page 18

Charleston, West Virginia
Issue Date:
Sunday, June 16, 1974
Page 18
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Page 18 article text (OCR)

lea? 16,1974 OMPMMM. SEC SEC Suit IVames Ex-City Man ALEXANDRIA. Va - » A-scheme, which Securities and Exchange Commission attorneys said involved uisre satm/ey than any of its type on record in the nation, was disclosed here Friday in U.S. District Court in an SEC action for an injunction. The action was taken by the SEC to stop what it alleged was a fraudulent enterprise by McLean businessman Robert Dale Johnson. 39. who the SEC charged had defrauded hundreds of sophisticated pro- f essioaal people of millions of dollars. The SEC alleged that Johnson defrauded investors -mostly in Virginia West Virginia, Maryland and the District of Columbia -- by pur- poriifig to run an abundantly profitable wine distribution system that was nonexistent. SEC investigators alleged he used borrowed capital to pay off investors who wanted out of the operation and used at least several million dollars for his own endeavors. Johason. married and the father of two children, was raised in Charleston, W. Va., and graduated from Morris Harvey College there with a bachelor of science degree in education. He joined the Chesapeake Potomac Telephone Co. in West Virginia in 1965 and over the next 1 years became a sa- pervisor ia several departments, including accounting and sales, in West Virginia and in the District. He left the company Jan. 14, 1972, to become an executive vice president for the Vortex Corp., one of the four McLean firms the SEC says funneled money to Johnson. Johnson, through his attorney. Jeremiah Collins, said he would have no comment on have cahr nwty $t left ia assets. Same 466 per SOBS - including hankers, lawyers, doctors aad iovest- meai specialists -- invested » Johnson's schemes over the years, the SEC said. "He could have kept the scheme going as long as (here was new money coming in. but when that stops, it's ail over." said William R. Schief, administrator of the SEC's Washington regional office, who said he is hoping for judicial action on the injunctive complaint this week. Truckload Close-Out On G.E. Washers, Dryers Air Conditioners FAD BEAT 6. E. PRICE RAISE!!! WE PURCHASED "10 TRAILERS' G.E. PRICES INCREASED! FAD DOES IT AGAIN!!! "2 SPEED" AUTOMATIC WASHER · 2 SPEEDS · WATER LEVEL CONTROL · WASH/RINSE TEMPERATURE CONTROL · MULTI-CYCLE INCLUDING PERMANENT PRESS AND EXTRA WASH TIME FOR HEAVILY SOILED STEMS · SAFETY SWITCH · LINT FILTER SERVICE ANYWHERE Multi-Temperature Automatic Dryer Permanent Press Cycle Look for these features in a G. E. dryer... · UP FRONT LINT FILTER · AXIAL AIR FLOW · LARGE LOADING PORT · TEMPERATURE SELECTIONS · PERMANENT PRESS CYCLE $ 129 90 J SERVICE ANYWHERE FREE DRYING RACK WITH PURCHASE G.E. AIR CONDITIONERS START AT *88 oo $ 00 4,000 BTU CARRY COOL · Only 43 Ibs. · Rotary Compressor · Lex an resin case (Guaranteed lOyrs.) · Only 7 amps, plugs into any 115 Volt Circuit. 5 190 $ SERVICE ANYWHERE 10,000 BTU FASHIONAIRE · 3 cooling/fan speeds · Automatic thermostat · Easy-Mount Side curtains · Dependable, efficient rotary compressor · 115 volt 6,000 BTU SLIDE-AIRE · Installs three ways.. sliding windows, casement windows and even narrow double hung windows · 3 cooling/fan speeds · Automatic thermostat · Easy mount curtain · 6.9AMPS115VOITS IF YOU'RE NOT BUYING FROM FAD . . . YOU'RE PAYING TOO MUCH!! 11 if·.$».». DISCOUNT ChttfctAn. illtot SlxWvyi To ivy At FAD ·era ·UTI1IT ·MSTDCMMI AtM FAD Guarantees the Lowest Price! F«x ihirt/ doyj ofltr jrour pwdioie o« FAO. if jwi (nd It* vsnf ifera for kn under ll* wiw too*ioa»o» )glt *T wrift you o cnfx toe rtt oiHm/Kf end poy |o* a 10% ptoofcj' for jwr frouWe. !K» oppte to farai. fc^e. oppfenai, b«Mn*. *bH teofn... omihn« ^ xl. Hw it cdM Tojioj * oo ric ln»" RCAOS? *of»id* »ojr«* optfo* 01 FAD. FIRST OF STAR VALUES! * PUCES EFFECTIVE TNMHKII TUESDAY JUNE 18,1974! FARMLAND CANNED HAMS 5-LB. $489 CAN OCEAN PERCH HUfTS Cm, PORK ~~ SAUSAGE PKO 49; lira's, IUWKAWK FRANKS 12-oz. riv\j. if f OCEAN PERCH HUETS SPLIT FRYER WITH RIB LB. 1 HUNT'S KETCHUP! $1 ! · · 1 14-oz: BTLS. DEL MONTE, CUT GREEN BEANS 16 or. Cans RIPE TOMATOES POUND ·QUANTITY RIGHTS RESERVED!

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