accessIndiana

Indianapolis, IN -- Indiana Secretary of State Todd Rokita today praises the arrest of and filing of additional criminal charges against Phillip Butler by Clinton County Prosecuting Attorney Louis Evans. The investigation, initiated by Rokita's office, has led to three more felony counts against Butler. Butler is now charged with selling unregistered securities, selling securities without being registered and fraudulent sale of securities. All three counts are Class C felonies, which are each punishable by up to eight years in prison and a fine of up to $10,000. Butler had previously been charged with 12 felony counts related to Greentree Marketing and Corporate Development Strategies, Incorporated.

Butler allegedly sold stock in the company Panamed even though the investment was not registered with the Secretary of State's office as required by law. The two victims allegedly bought $10,000 worth of unregistered stock in the company. Officials also allege that Butler failed to tell the victims he had been convicted in 1991 on four counts of securities fraud in Clinton County and in 1990 of forgery and receiving stolen property in Hamilton County. His employment in the securities industry was terminated in 1989 when he was barred by the National Association of Securities Dealers from association with any of its members.

"This is the kind of repeat criminal activity that needs to stop," Rokita said. "My office spent a great deal of time and effort to build a case against Mr. Butler. These charges send a clear message that Indiana will not stand by and let its citizens be victimized."

Rokita's office referred the case to Prosecutor Evans, who under Indiana law has the authority to file criminal charges. The offices continued working together to develop the case.

"I want to congratulate Prosecutor Evans and his staff for their hard work on this case. I am also proud of the work done by Securities Commissioner James Joven, Tasha Gail and Paul Lawson from my office's Prosecution Assistance Unit, as well as Jennifer Thompson and John Cochran from my Securities Division," Rokita said.

Rokita reminds Hoosiers to check out any opportunity before investing. All corporations should be registered with Rokita's office, as should investments and their sellers. Information can be verified by visiting Rokita's website, www.sos.IN.gov, or by calling 1-800-223-8791.