Make us your home page

Today’s top headlines delivered to you daily.

(View our Privacy Policy)

SEC accuses Tampa executive of running 'fantasyland of fraud'

SEC: Tampa exec ran FRAUD 'fantasyland'

The Securities and Exchange Commission accused Tampa home restoration executive Brian M. Marshall of helping create a "fantasyland of fraud" to push his company's stock after Hurricane Katrina. Marshall became president of Home Solutions of America Inc. in 2006 after it bought Tampa's Fireline Restoration Inc., a company he founded. Home Solutions' Frank Fradella and Jeff Mattich were also charged. Regulators accused the men of faking millions of dollars in revenue and writing false news releases to raise the price of their NASDAQ-traded stock. The stock price eventually collapsed when the shenanigans were disclosed, the SEC said. The SEC singled out Marshall, saying he booked more than $9 million of make-believe construction contracts with other companies he controlled. Companies founded by Marshall, including Initech Restoration Inc., filed for Chapter 11 bankruptcy Nov. 20.

Mosaic closing Polk, Hillsborough plants

Mosaic Co., a major producer of potash and fertilizer in southeastern Hillsborough and Polk counties, said Monday it will permanently close two plants idled in 2006 and write off additional machinery and equipment for a total writedown of about $50 million. The company, based in Plymouth, Minn., said the actions are part of an efficiency effort to improve returns in its phosphates business and to reduce operating costs. The facilities to close are the Green Bay plant and South Pierce phosphoric acid plant near Bartow. The company said it is joining its offshore unit with its phosphates mines in Central Florida, while its potash operations will remain a separate division. Mosaic shares, which have traded under $24 in the past year, were trading near $55 Monday morning.

SEC accuses Tampa executive of running 'fantasyland of fraud' 11/30/09 [Last modified: Monday, November 30, 2009 11:29pm]
Photo reprints | Article reprints


Join the discussion: Click to view comments, add yours

  1. Trump to skip Kennedy Center Honors awards program


    BRIDGEWATER, N.J. — Acknowledging that he has become a "political distraction," President Donald Trump has decided to skip the festivities surrounding the annual Kennedy Center Honors arts awards later this year, the White House announced Saturday amid the continuing fallout over Trump's stance on last weekend's …

  2. Bucs' annual Women of RED preseason party attracts nearly 2,000


    TAMPA — Theresa Jones is primarily a college football fan, but she wanted to get a taste of the Bucs. So the 46-year-old Tampa resident bought a ticket for the team's Women of RED Ultimate Football Party at Raymond James Stadium on Friday.

    Lee White of Seminole tries on a helmet at Raymond James Stadium in Tampa, Fla. on Friday, August 18, 2017.

Tampa Bay Buccaneers female fans descended upon Raymond James Stadium for the ultimate football party, the 2017 Women of RED: The Takeover, supported by Moffitt Cancer Center. CHARLIE KAIJO   |   Times

  3. Bucs' Ali Marpet: Move to center could pay off big


    TAMPA — No player works as closely with Jameis Winston as the center. Only those two touch the ball on every play. Together they make — if you will — snap judgements about defensive alignments.

     Jameis Winston #3 of the Tampa Bay Buccaneers and Ali Marpet #74 warm up prior to preseason game against the Jacksonville Jaguars at EverBank Field on August 17, 2017 in Jacksonville, Florida.  (Photo by Sam Greenwood/Getty Images) 700069805
  4. Inside the Rays continuing historically bad slump


    The numbers tell the story of the Rays inexplicable ongoing offensive slump, and the words detail how tough it has been to deal with.

  5. How Rays' Chris Archer is branching out on Twitter

    The Heater

    Tampa Bay Rays pitcher Chris Archer (22) leans on the railing of the dugout during the All-Star game at Marlins Park in Miami, Fla. on Tuesday, July 11, 2017. WILL VRAGOVIC   |   Times