PRESIDENT OF ORLANDO’S SKYLINE PRODUCTIONS & FILMS INC.
ARRESTED ON CHARGES OF FRAUD
Orlando, Fla - Following a Florida Office of Financial Regulation (OFR) investigation, Alberto O’Neill, owner of Skyline Productions & Films, Inc., was arrested for organized fraud, securities fraud and multiple counts of selling unregistered securities.
Investigators allege that O’Neill accepted more than $380,000 from investors to fund the production of streaming live video of Chinese New Year celebrations in February of 2007. Although O’Neill did make some arrangements for filming in Hong Kong, investigators allege that he did not take the necessary steps to secure a contract for the live stream, making it impossible for him to fulfill the promises he made to investors. In addition to misrepresenting his filming project, investigators allege that O’Neill used new investor funds to repay earlier investors and for his own personal gain.
OFR advises that with any investment, whether recommended in person, by mail, telephone, or on the Internet, citizens should slow down, ask questions, and obtain written information. The Office encourages investors to ask the following questions to help protect them from becoming victims of fraud:
• Do your research! Check the regulatory requirements the profession adheres to and confirm the person you are working with has a professional license. Also, check if any complaints have been filed against the company or individual. Consumers can go to
http://www.flofr.com/Downloads/licensecheck.htm and get up-to-date information on all Office of Financial Regulation issued licenses.
• Is the investment registered with the SEC and the state where I live?
• How does this investment match my investment objectives?
• Will the sales representative send me the latest reports that have been filed on this company?
• What are the costs to buy, hold and sell this investment? How easily can I sell?
• Who is managing the investment? What experience do they have? Have they made money for investors before?
• What is the risk that I could lose the money I invest?
• What return can I expect on my money? When?
• How long has the company been in business? Is it making money, and if so, how? What is their product or service? What other companies are in this business?
• How can I get more information about this investment, such as audited financial statements, annual and quarterly reports, and a prospectus?
• Are the returns and profitability claims just too good to be true? Remember if it sounds too good to be true, it is probably not a good investment.
• Immediately get help if you feel you have been victimized. Contact the Office of Financial Regulation at 1-800-848-3792 or go to
http://www.flofr.com to file a complaint.
The Florida Department of Law Enforcement (FDLE) assisted the OFR by making the arrest. The case is being prosecuted by the Office of Statewide Prosecution, Orlando.
The Office of Financial Regulation is committed to protecting Florida citizens by carrying out the banking, securities and financial laws of the state efficiently and effectively and to providing regulation of business that promotes the sound growth and development of Florida’s economy.
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