So the NTEK auditor was just disbarred by the SEC. I guess you can kiss those NTEK and NTGL audits good bye.
Thing is, is anyone really surprised? There is something very very shady going on with this company financially.
Service Providers
Accounting/Auditing Firm
J&J Consultants LLC
1393 N. Bennett Circle
Farmington, UT, 84025
United States
http://www.otcmarkets.com/stock/NTEK/profile
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 22875 / November 21, 2013
Accounting and Auditing Enforcement Release No. 3513 / November 21, 2013
Securities and Exchange Commission v. R. Gordon Jones, CPA, Civil Action No. 1:13-cv-00163-BSJ (D. Utah filed November 21, 2013)
SEC Charges Certified Public Accountant with Violating Commission Suspension Order
Seeks Disgorgement of Illicit Compensation Received During Suspending Period
The Securities and Exchange Commission today announced that it filed a complaint in U.S. District Court for the District of Utah against certified public accountant R. Gordon Jones. Securities and Exchange Commission v. R. Gordon Jones, C.P.A., 1:13-cv-00163-BSJ (D. Utah). Jones is a resident of Farmington, Utah, and has been licensed as a certified public accountant by the State of Utah since June 1980.
The Commission alleged in its complaint that Jones violated a May 4, 2001 Commission Order issued under Rule 102(e)(1)(ii) and (iii) of the Commission's Rules of Practice (the "2001 Order"
that suspended Jones from appearing or practicing before the Commission as an accountant. In The Matter of R. Gordon Jones, CPA and Mark F. Jensen, CPA, Securities Exchange Act of 1934 Rel. No. 44265, Accounting and Auditing Enforcement Rel. No. 1390, Administrative Proceeding File No. 3-10210 (May 4, 2001). According to the complaint, beginning in 2001 through the present, Jones provided accounting and financial statement preparation work for public companies. The complaint alleges that Jones, through his company J&J Consultants, LLC, has, among other things, created, compiled, and edited financial statements, information and data incorporated into Forms 10-K, 10-Q and 8-K; drafted and edited footnotes to financial statements; drafted and edited Management Discussion and Analysis sections relating to financial information of public filings; drafted and edited responses to Commission comment letters relating to financial information on public filings; and provided issuers with accounting advice that was subsequently reflected in financial statements filed with the Commission. The complaint further alleges that Jones supervised the financial statement preparation work for public company clients performed by J&J employees, and was intrinsically involved in and had the final sign off on the work of the other J&J employees. Through these actions, Jones violated the 2001 Order.
The SEC's complaint seeks a district court order enforcing its 2001 Order suspending Jones from appearing or practicing before the Commission as an accountant, and asks that the court order Jones to pay disgorgement, representing illicit compensation gained as a result of his engaging in work that was proscribed by the 2001 Order, together with prejudgment interest.
The Commission's investigation was conducted by Kimberly Greer, Ian Karpel, and Donna Walker in the Denver Regional Office. The Commission's litigation will be led by Polly Atkinson.
https://www.sec.gov/litigation/litreleases/2013/lr22875.htm
1. On May 4, 2001, the Commission issued an Order under Rule 102(e)(1)(ii)
and (iii) [17 C.F.R. § 201.102(e)(1)(ii) and (iii)] (the “102(e) Order”) barring defendant R.
Gordon Jones from appearing or practicing before the Commission as an accountant.
2. Despite the 102(e) Order, defendant Jones, beginning in 2001, provided
accounting and financial statement preparation work for public companies. Jones, through his company J&J Consultants LLC, has, among other things, created, compiled,
and edited financial statements, information and data incorporated into Forms 10-K, 10-
Q and 8-K; drafted and edited footnotes to financial statements; drafted and edited
Management Discussion and Analysis (“MD&A”) sections of public filings; drafted and
edited responses to Commission comment letters on public filings; and provided issuers
with accounting advice that was subsequently reflected in financial statements filed with
the Commission (collectively, “financial statement preparation work”).
3. Through these actions, Jones has violated the 102(e) Order. Jones
should be ordered pursuant to Section 21(e) of the Securities Exchange Act of 1934 [15
U.S.C. § 78u(e)] to comply with the Commission’s 102(e) Order and should be ordered
to disgorge the ill-gotten gains he obtained as a result of his violations.
https://www.sec.gov/litigation/complaints/2013/comp22875.pdf
Thing is, is anyone really surprised? There is something very very shady going on with this company financially.
Service Providers
Accounting/Auditing Firm
J&J Consultants LLC
1393 N. Bennett Circle
Farmington, UT, 84025
United States
http://www.otcmarkets.com/stock/NTEK/profile
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 22875 / November 21, 2013
Accounting and Auditing Enforcement Release No. 3513 / November 21, 2013
Securities and Exchange Commission v. R. Gordon Jones, CPA, Civil Action No. 1:13-cv-00163-BSJ (D. Utah filed November 21, 2013)
SEC Charges Certified Public Accountant with Violating Commission Suspension Order
Seeks Disgorgement of Illicit Compensation Received During Suspending Period
The Securities and Exchange Commission today announced that it filed a complaint in U.S. District Court for the District of Utah against certified public accountant R. Gordon Jones. Securities and Exchange Commission v. R. Gordon Jones, C.P.A., 1:13-cv-00163-BSJ (D. Utah). Jones is a resident of Farmington, Utah, and has been licensed as a certified public accountant by the State of Utah since June 1980.
The Commission alleged in its complaint that Jones violated a May 4, 2001 Commission Order issued under Rule 102(e)(1)(ii) and (iii) of the Commission's Rules of Practice (the "2001 Order"
that suspended Jones from appearing or practicing before the Commission as an accountant. In The Matter of R. Gordon Jones, CPA and Mark F. Jensen, CPA, Securities Exchange Act of 1934 Rel. No. 44265, Accounting and Auditing Enforcement Rel. No. 1390, Administrative Proceeding File No. 3-10210 (May 4, 2001). According to the complaint, beginning in 2001 through the present, Jones provided accounting and financial statement preparation work for public companies. The complaint alleges that Jones, through his company J&J Consultants, LLC, has, among other things, created, compiled, and edited financial statements, information and data incorporated into Forms 10-K, 10-Q and 8-K; drafted and edited footnotes to financial statements; drafted and edited Management Discussion and Analysis sections relating to financial information of public filings; drafted and edited responses to Commission comment letters relating to financial information on public filings; and provided issuers with accounting advice that was subsequently reflected in financial statements filed with the Commission. The complaint further alleges that Jones supervised the financial statement preparation work for public company clients performed by J&J employees, and was intrinsically involved in and had the final sign off on the work of the other J&J employees. Through these actions, Jones violated the 2001 Order. The SEC's complaint seeks a district court order enforcing its 2001 Order suspending Jones from appearing or practicing before the Commission as an accountant, and asks that the court order Jones to pay disgorgement, representing illicit compensation gained as a result of his engaging in work that was proscribed by the 2001 Order, together with prejudgment interest.
The Commission's investigation was conducted by Kimberly Greer, Ian Karpel, and Donna Walker in the Denver Regional Office. The Commission's litigation will be led by Polly Atkinson.
https://www.sec.gov/litigation/litreleases/2013/lr22875.htm
1. On May 4, 2001, the Commission issued an Order under Rule 102(e)(1)(ii)
and (iii) [17 C.F.R. § 201.102(e)(1)(ii) and (iii)] (the “102(e) Order”) barring defendant R.
Gordon Jones from appearing or practicing before the Commission as an accountant.
2. Despite the 102(e) Order, defendant Jones, beginning in 2001, provided
accounting and financial statement preparation work for public companies. Jones, through his company J&J Consultants LLC, has, among other things, created, compiled,
and edited financial statements, information and data incorporated into Forms 10-K, 10-
Q and 8-K; drafted and edited footnotes to financial statements; drafted and edited
Management Discussion and Analysis (“MD&A”) sections of public filings; drafted and
edited responses to Commission comment letters on public filings; and provided issuers
with accounting advice that was subsequently reflected in financial statements filed with
the Commission (collectively, “financial statement preparation work”).
3. Through these actions, Jones has violated the 102(e) Order. Jones
should be ordered pursuant to Section 21(e) of the Securities Exchange Act of 1934 [15
U.S.C. § 78u(e)] to comply with the Commission’s 102(e) Order and should be ordered
to disgorge the ill-gotten gains he obtained as a result of his violations.
https://www.sec.gov/litigation/complaints/2013/comp22875.pdf
