Oct 6
2008

Benny Lynn Holland, of Katy, Texas, pled guilty in the 91st District Court of Eastland County, Texas, to one count of selling unregistered securities in CR-05-20773 and to one count of selling securities without being registered as a dealer or agent in CR-04-20774. Holland sold securities that involved the purchase of truck-mountable billboard frame equipment from Mobile Billboards of America, Inc. and the lease of that equipment to Outdoor Media Industries in exchange for monthly payments to investors equivalent to a 13.49% annual return. The Mobile Billboards scheme collected approximately $60 million from investors nationwide. On October 6, 2008, Holland was ordered to serve a five year term of deferred adjudication community supervision.