Philip D. Phillips, individually and d/b/a American Heartland Sagebrush Securities Investments Inc. and Sagebrush Securities, American Heartland, Inc., et al.

On April 7, 2005, the SEC obtained temporary restraining order, asset freeze, and other emergency relief against Philip D. Phillips doing business as American Heartland Sagebrush Securities Investments, Inc. and Sagebrush Securities, American Heartland, Inc. alleging that Phillips, a securities broker, bilked investors out of approximately $2.5 million. The SEC alleged Phillips promised he would investors’ funds in safe income-generating securities. However, according to the SEC’s complain, Phillips failed to purchase securities for investors as reflected on “account statements” and, in fact, misappropriated a large portion of investor funds. The SEC also named Kirby J. Curry as a relief defendant to recover funds the SEC alleged he improperly received.

For more information about the SEC’s action, you can read Litigation Release No. 19178 (Apr. 11, 2005).

The Court appointed Walter O’Cheskey as Receiver. If you have questions about the Receivership, you can reach Mr. O’Cheskey at:

P.O. Box 64456
Lubbock, TX 79464
Phone: (806) 748-6650
Fax: (806) 748-6650
ocheskey@aol.com

http://www.sec.gov/divisions/enforce/claims/philipphillips.htm