SEC v. Thought Development, Inc. and Alan Amron, Case No. 1:13-cv-23476 (S.D. Fla.). On September 26, 2013, the SEC announced charges against Thought Development, Inc. (“TDI”) and its founder and chairman Alan Amron with violations Sections 5(a) and 5(c) of the Securities in connection with the offer and sale of unregistered TDI stock. Without admitting or denying the allegations, the defendants offered to settle all charges and agree to full injunctive relief, and as to Amron, the payment of a $10,000 civil penalty. The SEC alleges that TDI and Amron directly, and through of an unaffiliated company, offered and or sold unregistered offerings of TDI to investors when no registration statement was filed or in effect with the Commission and there was no relevant exemption from registration. According to the SEC, TDI and Amron also sold stock to investors without inquiring or obtaining information as to whether they were qualified as accredited investors. Some of these investors were, in fact, unaccredited.
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