In The Matter Of Kenman Corp. Fed. Sec. L. Rep. (Cch)

83,767 (Apr. 19, 1985)

Purchase the Printed Copy at bsmsphd.com

Nature of the Case

To access this section all you need to do is click here and register.

Facts

Ds participated in two limited partnership offerings. Missiondale Palms Associates (Mission) is a Utah limited partnership organized to acquire an apartment complex in Arizona. Kenman (D) is a general partner in Mission. Ds sold limited partnerships to 39 investors totaling $875,000. No registration statement was filed. Orem Dairy Queen Associates (Orem) is a Utah limited partnership to acquire land and a franchise for a Dairy Queen restaurant. Kenman (D) is a general partner in Orem. Ds sold limited partnerships to 25 investors totaling $280,000. No registration statement was filed. Ds sold the units by mailing information to an unknown number of persons. They gained the mailing list from a list of persons who had participated in prior offerings, lists of executive officers in Fortune 500 companies, a list of persons who had invested more than $10,000 in real estate offerings by issuers other than Ds, a list of physicians in the State of California, managerial engineers employed by Hughes Aircraft, and from people found in the Morris County, New Jersey Industrial directory. Ds did not keep good records of who was solicited.