Owners Of Sham Beer Delivery Co. Settle $8M SEC Suit

Law360, New York (September 7, 2012, 2:34 PM EDT) -- The owners of a beverage delivery service reached a settlement Thursday to resolve federal regulators' accusations that they fraudulently raised $8 million from investors by fabricating service contracts with Heineken USA Inc. and Anheuser Busch Inc. and falsely promising an initial public offering.

The U.S. Securities and Exchange Commission filed consent agreements in New York federal court with George Garcy of Aventura, Fla., and Angelo Cuomo of of Staten Island, N.Y., who the commission accused of operating E-Z Media Inc. as a securities sham.

According to...
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