September 30, 2014

Lee Cole, Linden Boyne

Financial Fraud

SANCTION AMOUNT: $29,670,751

Defendants: Lee Cole, Linden Boyne

Default judgment against former CEO and CFO of Electronic Game Card Inc., which allegedly was the bait in a fraudulent scheme in which defendants falsely claimed (including by providing falsified documents to the auditor) that the company had millions of dollars in annual revenue, millions of dollars in investments, and an off-shore bank account worth more than $10 million. The value of this near-worthless company's outstanding common stock was inflated to as high as $150 million.

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