SEC v. Charles E. Dickerson; and Volunteer Enterprises, Ltd., No. LR-18235, Northern District of Illinois (July 17, 2003) — Press Release
raw: Charles E. Dickerson
Charles E. Dickerson, No. LR-18235 (N.D.I.ll July 17, 2003)
Charles E. Dickerson was criminally indicted for contempt and obstruction of justice after spending $75,000 in frozen assets meant for investor restitution, violating court orders in the SEC’s civil case against him and 44 others, and faces up to 15 years in prison.
Charles E. Dickerson was indicted on seven counts including five counts of contempt of court, one count of obstructing the SEC’s civil action, and one count of obstructing the SEC’s investigation for violating a court-ordered asset freeze. Between February 2000 and January 2002, he spent approximately $75,000 in funds that were frozen pending restitution to defrauded investors, using the money for personal expenses. He faces up to 10 years for obstructing the court, 5 years for obstructing the SEC investigation, and no statutory maximum for contempt, while his civil disgorgement and penalties remain undetermined.
Charles E. Dickerson, a defendant in the SEC’s civil case against Charles R. Homa and 44 others, was criminally indicted on July 10, 2003, for contempt and obstruction of justice after violating a court-ordered asset freeze. Between February 2000 and January 2002, he illegally spent approximately $75,000 in funds that had been frozen to preserve assets for restitution to defrauded investors, diverting the money to pay his personal expenses. The indictment includes five counts of contempt of court under 18 U.S.C. § 401, one count of obstructing the SEC’s civil action under 18 U.S.C. § 1503, and one count of obstructing the SEC’s investigation under 18 U.S.C. § 1505. Dickerson faces a maximum of 10 years for obstructing the court, 5 years for obstructing the SEC investigation, and no statutory maximum for contempt. He had previously consented to a permanent injunction in the civil case on February 15, 2002, barring future securities law violations, but the amount of disgorgement and civil penalties he must pay remains undetermined. Arraigned on July 17, 2003, in the Northern District of Illinois before Judge Harry D. Leinenweber, Dickerson’s criminal case is separate from the ongoing civil proceedings.
Extracted insights
- $75K $75,000 $10K–$100K
- person Charles E. Dickerson
- person Charles R. Homa
- person Harry D. Leinenweber
- organization Securities and Exchange Commission
- organization United States
- organization United States Attorney For The Northern District Of Illinois
- organization Volunteer Enterprises, Ltd.
- The Commission and the United States Attorney for the Northern District of Illinois announced a seven-count indictment charging contempt and obstruction of justice was returned by a federal grand jury on July 10, 2003 against Charles E. Dickerson
- Dickerson defied court orders issued in connection with SEC v. Homa that prohibited him from spending or dissipating his assets
- Dickerson spent about $75,000 in funds that should have been frozen and eventually returned to defrauded investors
- Dickerson will be arraigned on July 17, 2003
- Dickerson faces a maximum of 10 years in prison for the charges of obstructing the court
- Dickerson consented to the entry of a permanent injunction enjoining him from future violations of the federal securities laws
Litigation Release No. 18235 / July 17, 2003 SEC v. Charles R. Homa, Charles E. Dickerson, et al., Civil Action No. 99 CV 6895 (N.D.Ill. October 15, 1999) United States v. Charles E. Dickerson, Criminal Action No. 03 CR 676 (N.D. Ill.) The Commission and the United States Attorney for the Northern District of Illinois announced that on July 10, 2003 a seven-count indictment charging contempt and obstruction of justice was returned by a federal grand jury sitting in the Northern District of Illinois against Charles E. Dickerson, one of 45 defendants in the civil case SEC v. Homa. The indictment charges that, beginning in about February 2000 and continuing into January 2002, Dickerson defied court orders issued in connection with SEC v. Homa that prohibited him from spending or dissipating his assets. Specifically, the indictment charges Dickerson with five counts of contempt of court (18 USC Sec. 401), one count of obstructing the district court action filed by the SEC (18 USC Sec. 1503), and one count of obstructing the SEC's investigation (18 USC Sec. 1505). Altogether, the indictment charges that Dickerson spent about $75,000 in funds that should have been frozen and eventually returned to defrauded investors to pay his own expenses. The criminal case, USA v. Dickerson, 03 CR 676 (N.D. Ill.) is before U.S. District Judge Harry D. Leinenweber. Dickerson, who lives in Tennessee, will be arraigned on July 17, 2003. Dickerson faces a maximum of 10 years in prison for the charges of obstructing the court, 5 years for charges of obstructing the SEC investigation, while the contempt of court charges carry no statutory maximum sentence. Dickerson and an entity he controlled, Volunteer Enterprises, Ltd. ("Volunteer") were among the defendants named in the civil case on October 15, 1999. On that date, the district court imposed a temporary restraining order and an asset freeze order against Dickerson, Volunteer, and multiple other defendants. On February 15, 2002, Dickerson consented to the entry of a permanent injunction enjoining him from future violations of the federal securities laws. The amount of disgorgement and civil penalties that Dickerson and Volunteer will pay in the civil case have not yet been set.Litigation Release No. 18235 / July 17, 2003 SEC v. Charles R. Homa, Charles E. Dickerson, et al., Civil Action No. 99 CV 6895 (N.D.Ill. October 15, 1999) United States v. Charles E. Dickerson, Criminal Action No. 03 CR 676 (N.D. Ill.) The Commission and the United States Attorney for the Northern District of Illinois announced that on July 10, 2003 a seven-count indictment charging contempt and obstruction of justice was returned by a federal grand jury sitting in the Northern District of Illinois against Charles E. Dickerson, one of 45 defendants in the civil case SEC v. Homa. The indictment charges that, beginning in about February 2000 and continuing into January 2002, Dickerson defied court orders issued in connection with SEC v. Homa that prohibited him from spending or dissipating his assets. Specifically, the indictment charges Dickerson with five counts of contempt of court (18 USC Sec. 401), one count of obstructing the district court action filed by the SEC (18 USC Sec. 1503), and one count of obstructing the SEC's investigation (18 USC Sec. 1505). Altogether, the indictment charges that Dickerson spent about $75,000 in funds that should have been frozen and eventually returned to defrauded investors to pay his own expenses. The criminal case, USA v. Dickerson, 03 CR 676 (N.D. Ill.) is before U.S. District Judge Harry D. Leinenweber. Dickerson, who lives in Tennessee, will be arraigned on July 17, 2003. Dickerson faces a maximum of 10 years in prison for the charges of obstructing the court, 5 years for charges of obstructing the SEC investigation, while the contempt of court charges carry no statutory maximum sentence. Dickerson and an entity he controlled, Volunteer Enterprises, Ltd. ("Volunteer") were among the defendants named in the civil case on October 15, 1999. On that date, the district court imposed a temporary restraining order and an asset freeze order against Dickerson, Volunteer, and multiple other defendants. On February 15, 2002, Dickerson consented to the entry of a permanent injunction enjoining him from future violations of the federal securities laws. The amount of disgorgement and civil penalties that Dickerson and Volunteer will pay in the civil case have not yet been set.