Apr 16

Bruce Frank Ruark, of Austin, Texas, pled guilty in the 277th District Court of Williamson County, Texas, to four counts of selling unregistered securities in Cause No. 05-1176-K277 and to four counts of selling securities without being registered as a dealer or agent in Cause No. 05-1175-K277. Ruark sold securities issued by Mobile Billboards of America, Inc. This investment 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. On April 16, 2007, Ruark was ordered to serve a ten year term of deferred adjudication community supervision. This community supervision was conditioned on Ruark serving 45 days in the county jail and paying restitution of $138,100.00.