Clarification by Mr. Fox on exactly how he knows Mr. Sarad/Sarod: Did you run into the ad on Craigslist, when and how?
Clarification by Mr. Sarad/Sarod: What is your real name? Why do I find the following about you, potentially a repeat offender?
Why did you not use your correct name in the setup of your website?
Ceast and Desist order by the state of Pennsylvania on 10-31-06 for your website.
For Immediate Release: 03/01 Commission Halts Unregistered Activity By 504 Fund, Inc., Matthew A. Sarad, and Jeremy D. Jobe ORDER TO RESCIND SUMMARY ORDER TO CEASE AND DESIST 10/31 Harrisburg, PA, 03/01 The Pennsylvania Securities Commission issued a Summary Order to Cease and Desist against 504 Fund, Inc. (Fund), Matthew A. Sarad (Sarad) and Jeremy D. Jobe (Jobe) to halt the offer and sale of unregistered securities in Pennsylvania. Fund, an entity with addresses in Dallas, Texas, and Sacramento, California, maintained a web site at www.504bank.com (Web Site). Sarad, also with addresses in Dallas, Texas, and Sacramento, California, was the CEO of Fund. Jobe also with addresses in Dallas, Texas, and Sacramento, California, was President of Business Development for Fund. From in or about January until the present, Fund maintained the Web Site which contained offering materials. The Web Site stated that Fund is offering for sale shares of stock (Stock).in or about January Fund mailed offering materials, which included a Private Placement Memorandum and Subscription Agreement (Materials), to at least one Pennsylvania resident (PA Resident) and offered for sale the stock. The Materials state that Fund, once financed, will permit[s] private companies to exchange large volumes of their own stock for an equal amount of highly diversified stock from a hedge fund. According to the Materials, the Stock costs $5.00 per share, and Fund seeks a total capitalization of $600,000. The PA Resident had no substantive pre-existing relationship with Fund, Sarad, and Jobe and was not an accredited investor under Rule 501 of Regulation D, and did not have sufficient knowledge and experience in financial and business matters to be capable of evaluating the merits and risks of the investment. The Commission directed Private to stop offering or selling the Stock in the Commonwealth of Pennsylvania in violation of the 1972 Act, and in particular Section 201, thereof. Any further solicitations or sales made by Fund, Sarad, and Jobe, or their affiliates in Pennsylvania will constitute further violations of the 1972 Act. Any further solicitations or sales made by these respondents in Pennsylvania will constitute violations of the 1972 Act and the Commission's Orders. Any person who is solicited by or has information about these respondents is asked to immediately notify the Pennsylvania Securities Commission by calling 800-600-0007, or, in Harrisburg: (717) 787-8062, in Pittsburgh: (412) 565-5083 or in Philadelphia: (215) 560-2088. Alternate formats of this release may be available on request; call 717/787-1165.
Various previous employments and run ins listed here
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