ALABAMA SECURITIES COMMISSION

770 WASHINGTON AVE, SUITE 570

MONTGOMERY, ALABAMA 36130-4700

 

Telephone: (334) 242-2984 or 1-800-222-1253. Fax: (334) 242-0240

Email:  asc@asc.state.al.us.  Website:  www.asc.state.al.us

 

FOR IMMEDIATE RELEASE

 

MONTGOMERY, ALABAMA (August 25, 2003) - Honorable Randall Houston, District Attorney for the Nineteenth Judicial Circuit, Honorable Joseph P. Borg, Director of the Alabama Securities Commission and Prattville Police Chief Alfred W. Wadsworth announce today that

David Wayne Gordan, age 37, of Springfield Drive, Millbrook, Alabama was found guilty by an Autauga county jury of 15 counts for the sale of securities by an unregistered agent, sale of unregistered securities, securities fraud and theft of property for charges surrounding financial activities involving the expansion of the former Daystar Assembly of God located in Prattville, Alabama.  A sentencing hearing is scheduled for September 11, 2003.

 

David Wayne Gordan was found guilty of the following charges and could face a maximum of 210 years in prison:

 

1.  Two counts of sale of securities by an unregistered agent.

2.  Three counts of sale of unregistered securities.

3.   Four counts of securities fraud.

4.   Six counts of theft of property.

 

Joseph Borg, Director of the Alabama Securities Commission said, “The outcome of trial reflects highly on the cooperation between local and state enforcement authorities.  I commend Glenn Goggans, the Assistant District Attorney, 19th Judicial Circuit Court and Randall McNeill from the Alabama Securities Commission for their hard work and professionalism to prosecute this case. The decision of the jury also reflects the new awareness that white collar crime is no different than street crime, both destroy lives, dash hopes and kill dreams of our citizens.”

 

Randall Houston, District Attorney, 19th Judicial Court said, “I appreciate the citizens of Autauga County who carefully weighed the evidence presented and made the right decision to ensure  justice for crimes committed against people in our community.”

 

Nancilu Carpenter, Donald Cayton, Leonard Miller, William Till, Elaine Turner and Kelly Vickers previously pled guilty before the Honorable Ben Fuller, Circuit Judge for the Nineteenth Judicial Circuit, to charges surrounding financial activities involving the proposed expansion of the former Daystar Assembly of God located in Prattville, Alabama.  A sentencing hearing is scheduled for September 11, 2003.

 

The Alabama Securities Commission Enforcement Division opened its investigation in the Daystar matter in July, 2001.  The investigation revealed the alleged misappropriation of funds raised by Daystar Assembly of God Church in the sale of certificates of deposit and loans proceeds for development of the church by Mark Stephen Cooper, Elaine Jenkins Turner, Donald Cayton, Leonard Miller, William Till, April Sunday Rutledge Cooper and Kelly Vickers.  The investigation further showed alleged fraud perpetrated by these individuals as well as Nancilu

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Carpenter against local banks and lending institutions.  Finally, the investigation revealed alleged violations of the Alabama Securities Act and Theft of Property in the 1st Degree from the sale of promissory notes of a company called Qtrex by Elaine Turner and David Wayne Gordon.  Total loss from all of these alleged acts is approximately $3 million dollars.  

 

In February 2003, Mark Steven Cooper, pled guilty to 1 count of Sale of Securities by an Unregistered Agent; 1 count of Sale of Unregistered Securities; 1 count of Securities Fraud; 7 counts of Theft of Property I.  Cooper was sentenced to 31 years in the penitentiary, fined $35,000 and ordered to pay court costs, $10,000 to the Alabama Crime Victims Compensation Fund, and restitution of $2,529,262.87.

 

April Sunday Rutledge Cooper was sentenced at a hearing held on April 4, 2003 to charges surrounding financial activities involving the proposed expansion of the Daystar Assembly of God.  Mrs. Cooper pled guilty to 1 count of Theft of Property I in February.  She was sentenced to the custody of the Department of Corrections for a period of 10 years, fined the sum of $10,000, ordered to pay restitution in the amount of $117,330 to the Daystar Church and MIT Lending, and ordered to pay $1,000 to the Alabama Crime Victims Compensation Fund.   

 

The Director of the Alabama Securities Commission (ASC) cautions potential investors to thoroughly check out any investment opportunity.  Contact ASC for inquiries regarding securities broker-dealers, agents, investment advisors, investment advisor representatives, financial planners, the registration status of securities, to report suspected fraud, or obtain consumer information: 

 

ALABAMA SECURITIES COMMISSION

770 WASHINGTON AVE, SUITE 570

MONTGOMERY, ALABAMA 36130-4700

 

Telephone: (334) 242-2984 or 1-800-222-1253. Fax: (334) 242-0240

Email:  asc@asc.state.al.us.  Website:  www.asc.state.al.us

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If you have questions or require more information contact:

 

Daniel G. Lord

Education and Public Affairs Manager