Secretary of State Kemp Announces Arrests of Securities Fraud Suspects

Atlanta – Georgia Secretary of State Brian Kemp announced today the arrest of three individuals suspected of engaging in securities fraud in violation of Georgia law.

Earlier this year, the Georgia Secretary of State’s Office received a tip regarding potential securities violations by Bright Ideas Entertainment, Inc. of Norcross, Georgia. Based on that tip the Secretary of State’s Office initiated an investigation. On November 18, 2011, with the assistance of the Roswell and East Point Police Departments, investigators from the Georgia Secretary of State’s Office executed arrest warrants for William Anthony Hollins and Tene Davis.

Secretary Kemp stated, “I would like to thank Gwinnett County District Attorney Danny Porter and cooperating law enforcement agencies for their assistance with the arrest of these individuals. Georgia’s law enforcement agencies play a significant role in helping the Secretary of State’s Office protect our state’s investors from fraud.”

William Hollins was charged on six counts of selling unregistered securities; six counts for the sale of securities by an unregistered agent; six counts of fraud in the sale of a security; and six counts of theft by deception. Tene Davis was charged on three counts of each of the violations listed for Hollins.

A third individual, Daniel High, was arrested on November 21, 2011 on six counts of each of the violations listed for Hollins.

A total of 24 charges were filed against both Hollins and High, and twelve charges were filed against Davis.

The warrants allege that those arrested, while unlicensed and unregistered to do so, solicited numerous investors to invest money in Bright Ideas Entertainment, Inc., an entertainment company, using deceitful and untrue representations in investment contracts, to convince investors that their investments were fully guaranteed against loss.

Approximately thirty investors lost more than $2 million. Most of the investments were solicited and executed in 2009 and 2010. A majority of the investors are Georgia residents. Any additional victims are asked to contact the Georgia Secretary of State’s Office.

The Gwinnett County District Attorney’s Office will handle the prosecution of the case.

Brian Kemp has been Secretary of State since January 2010. Among the office’s wide-ranging responsibilities, the Secretary of State is charged with conducting efficient and secure elections, the registration of corporations, and the regulation of securities and professional license holders. The office also oversees the Georgia Archives.