SEC Wins Settlement From "Natural Healing" Co.

Law360, New York (May 5, 2006, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has prevailed in its legal battle against Bio-Heal Laboratories Inc., a natural-healing research firm accused of orchestrating a fraudulent initial public offering.

The regulatory agency sued Bio-Heal in April 2005 in the U.S. District Court for the Southern District of Florida, accusing the company of fraudulently issuing Bio-Heal stock worth approximately $10 million.

As part of the deal, Bio-Heal, which claimed to develop topical natural-healing products in Nicaragua, will pay $600,000 and pre-judgment interest of more than $18,000. The Nevada-based...
To view the full article, register now.