Quantcast

Tuesday, July 22, 2014         

 Print   Email   Comment | View 8 Comments   Most Popular   Save   Post   Retweet

SEC charges 2 Hawaii men over alleged fraud involving religious video game

By Erika Engle

POSTED:
LAST UPDATED: 02:16 p.m. HST, Sep 25, 2013



The U.S. Securities and Exchange Commission has suspended the stock of Left Behind Games Inc. and charged founder Troy Lyndon and a friend with falsely inflating company revenue.

The SEC alleges that Lyndon, the company CEO and CFO who lives in Honolulu, caused Left Behind Games to issue almost 2 billion shares of stock to friend Ronald Zaucha, who lives on Maui. Zaucha was to sell the stock and kick back a portion of the proceeds to Left Behind to prop up its revenues, according to the SEC complaint.

"Lyndon and Zaucha's scheme duped investors into believing Left Behind Games was becoming a successful enterprise when it was struggling to stay afloat," said Michele Wein Layne, Director of the SEC's Los Angeles Office. "Lyndon essentially gave Zaucha stock in exchange for phony revenue streams that created an inaccurate portrait of the company's financial health."

The SEC complaint seeks permanent injunctions, financial penalties and other measures against Lyndon and Zaucha.

Lyndon issued a statement to the Star-Advertiser today denying any willful wrongdoing and asserting that the government has conspired against him and his company.

A link to his full response is included.

http://www.troylyndon.com/govt/

http://www.sec.gov/litigation/complaints/2013/comp-pr2013-198.pdf






More From The Star-Advertiser

Businessman, pal accused of fraud




 Print   Email   Comment | View 8 Comments   Most Popular   Save   Post   Retweet

COMMENTS
(8)
You must be subscribed to participate in discussions
By participating in online discussions you acknowledge that you have agreed to the TERMS OF SERVICE. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. Because only subscribers are allowed to comment, we have your personal information and are able to contact you. If your comments are inappropriate, you may receive a warning, and if you persist with such comments you may be banned from posting. To report comments that you believe do not follow our guidelines, email commentfeedback@staradvertiser.com.
Leave a comment

Please login to leave a comment.
Slow wrote:
This exactly why we don't need or want no super computer center on Maui. Science is bad. Technology corrupts people. The future is scary. Let's walk backwards together. btw SA, religion is mentioned only in you headline. Guess it had nothing to do with the story. Good writing.
on September 25,2013 | 07:28AM
rytsuru wrote:
it is technology again Slow! SA just wants you to google everything, that way when they pay their online reporters by the word, they can cut down on costs! Kidding....
on September 25,2013 | 09:31AM
nodaddynotthebelt wrote:
Religion is often used for profit and oftentimes the very people that are victimized are the most vulnerable. Criminals know this and use it often. Some of them, such as televangelists, are prosper because there are a lot of easy prey out there. One televangelist has a mansion with a line up of luxury cars and a private plane which he claims is the property of the religious group. Yes, religions do some good for the community. But many also do so much damage in the form of religious bigotry and all forms of hatred that they espouse especially against those of a different sexual orientation. When a religion that is based on the teachings of Jesus teaches hate and division, it tells you that these religious people have twisted their most important tenet, and that is love. Hatred and division is not love. To interpret the bible in some way to encourage such things is outright against the teachings of Jesus. I know, because I was one of those who followed the teachings of a Christian church. Until I realized that they truly believed that a loving God would throw His own creations into a fiery destruction. Now what kind of a being would do that? A human being that has some twisted thinking. You must question your religion when they encourage you to hate on one another. From the teachings of Muslims to the teachings of Christianity, one must question these wrong kind of thinking and make a decision. Unfortunately, many do not and a religious zealots. Religion has become a problem around the world from the terrorists who use their religion as an excuse to kill thousands to religions that destroy the lives of people just because they are different.
on September 25,2013 | 10:16AM
cojef wrote:
The main stream media is just as bad for condescendly placating the Islamists, whenever Muslims are involved in misbehaviors or atrocities. Even the President in his recent speech at the UN refrained from casigating the gassing of the innocents Muslims as well as the destruction of predominately Christian church and town. The mere criticism of "Shariah" law is sure heckle the feathers of the editors. Political correctness will be the cause of the demise of our democracy as we know it. Most of the wars are over religious differences from the time of the "Crusades". The Syrian crisis is over sectarian differences between the Sunni population and the Iranian Shiite supported Assad.
on September 25,2013 | 11:04AM
Holomua wrote:
That headline is just an attention grabber. The article makes no mention of a specific video game, and "Left Behind Games" is the name of the company involved in the fraud. Bad form, Advertiser. At least you didn't try to put something like "Anti-Gay video game" to try to get more reads.
on September 25,2013 | 10:48AM
cojef wrote:
OOPs, the sent for approval for being critical of the sectarian war being waged in Syria and how the main stream media will condescendly refrain from calling a spade a spade., i. e. jidhadist, radical Islamist. Political correctness is the mantra.
on September 25,2013 | 11:10AM
cojef wrote:
My comments have been censored probably for blaming the main stream media of bias in reporting the news as it relate to placating the Muslims commiting atrocities in murdering Americans. Back when Presidential candidate Robert Kennedy by Muslim the press did not hesitate to identify the killer as a Muslim. Atfer 9-11, the press has been very careful for political correctnes to refrain from citing radicals or extremists with their religion. Another is the careful reference to "Shariah" in their new accounts. Yet, as it relaes to the Christian relgion, it appears as though its open season.
on September 25,2013 | 11:23AM
troylyndon wrote:
I am the CEO. Please see my response to this article at www.troylyndon.com/govt The writer of this article has failed to respond to my 2 requests for her to update her article to include my statement.
on September 25,2013 | 01:56PM
IN OTHER NEWS
Breaking News
Blogs
Wassup Wit Dat!
Silver Pockets Full

Political Radar
VoteVets

Political Radar
Values

Island Crafters
Christmas in July

Political Radar
IBEW endorsement

Warrior Beat
Travel day

Small Talk
Counting coins