Feb 7

Saulo Abraham Muñoz, of El Paso, Texas, was indicted on February 7, 2007, in the 41st Judicial District Court of Texas in El Paso County, Cause No. 20070D0480, on charges of securities fraud. Muñoz is alleged to have represented to investors that he would pool their funds, invest those funds in the stock market, and pay the resulting profits back to the investors. The indictment alleges that Muñoz failed to disclose that funds paid to him by investors for the purpose of buying and selling securities were instead used for other purposes; that the investment scheme had resulted in a cumulative loss; and that account statements provided to investors were false and misleading.