Benny Lynn Holland

Sep 28

Benny Lynn Holland of Katy, Texas, was indicted on September 28, 2005 in the 91st Judicial District Court in Eastland County, Texas, Cause No. CR-05-20773, for violations of the registration requirements of the Texas Securities Act. Holland is charged with acting as an unregistered sales agent in the offer and sale of $20,000 of investments in Mobile Billboards of America, Inc. The program 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.