Nov 13
2007

Gerald R. Kingston, of Irving, Texas, was charged with one count of conspiracy to commit securities fraud on November 13, 2007, in the U.S. District Court, Northern District of Texas, Dallas Division, Cause No. 3-07CR-344-N. Kingston was co-owner, along with Jeffrey C. Bruteyn, of United Financial Markets, Inc., a Texas corporation with its principal place of business in Dallas, Texas. Beginning on or about August of 2006, Kingston and others allegedly agreed to manipulate the stock price of Interfinancial Holdings Corporation (IFCH) through the fraudulent trading of its stock, using matched trade orders to buy and sell IFCH stock to and from each other and themselves to create the false appearance of significant public demand for and trading activity in IFCH, thereby fraudulently increasing its trading price. Before ordering these purchases and sales, members of the conspiracy and others allegedly obtained large blocks of IFCH stock so they could profit if the stock price rose.