SEC Sues Alleged Wannabe Beverage Magnates For $8M

Law360, New York (May 12, 2011, 12:10 PM EDT) -- The founders of beverage delivery company E-Z Media Inc. raised $8 million but spent half that sum on themselves and never bothered to file for the initial public offering they promised investors, regulators claimed Wednesday in New York federal court.

George Garcy of of Aventura, Fla., and Angelo Cuomo of of Staten Island, N.Y., carried out the scheme for nearly six years beginning in 2003, as the two men made up stories about having lucrative contracts to deliver products made by Heineken USA Inc., Anheuser Busch...
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