BOCA RATON, FL (BocaNewsNow.com) — Michael Kordich, a Boca Raton financial services executive sanctioned by the SEC (Securities and Exchange Commission) several years ago has been arrested by Boca Raton Police on an “out of state” fugitive warrant.
We are awaiting details of the charges against Kordich and which agency ordered his arrest. Both Boca Raton Police and the Palm Beach Sheriff’s Office tell BocaNewsNow.com that they are part of a “Fugitive Task Force.” They took part in the arrest but did not request the warrant. Neither agency had immediate details of which agency in which state ordered his arrest or the charges he now faces.
Kordich, 52, of Royal Palm Way in Boca, is being held in the Palm Beach County Jail pending his next move.
In 2005, Kordich was sanctioned by the SEC for his role in securities fraud through a company called “Opsis Technologies International.”
Part of the SEC order is below:
On the basis of this Order and Kordich’s Offer, the Commission finds that:
A. From approximately 2001 through April 2003 Kordich was associated with Venture
Capital Holdings LLC, an unregistered broker-dealer. Kordich, age 44, resided in Boca Raton,
Florida during the relevant period.
B. On March 3, 2005 the United States District Court for the Southern District of
Florida entered a partial final judgment by consent against Respondent (the “Consent Judgment”)
in the civil action entitled Securities and Exchange Commission v. Opsis Technologies
International, Inc. et al., Civil Action No. 03-62251-Civ.-Martinez/Klein. The Consent Judgment
entered against Kordich, among other things, permanently enjoined him from future violations of
Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 (“Securities Act”), Sections 10(b) and
15(a) of the Exchange Act and Rule 10b-5 thereunder, and barred him from participating in a
penny stock offering.
C. On December 22, 2003 the Commission filed a Complaint against Kordich and
others, alleging, among other things, that beginning no later than 2001 through April 2003, in
connection with the unregistered offer and sale of Opsis Technologies International, Inc. (“Opsis”)
securities, Kordich, while associated with an unregistered broker-dealer, and acting with scienter,
made material misrepresentations concerning Opsis and its securities in violation of the antifraud
provisions of the securities laws. In addition, the Complaint alleged that Kordich violated the
registration provisions of Section 5 of the Securities Act and the broker-dealer registration
provisions of Section 15(a) of the Exchange Act.
