November 6, 2006
St. Charles, Mo. — An individual who promised investors big money in the next dot-com stock boom, but instead delivered nothing but empty promises and worthless stock certificates, will pay $45,000 in restitution to ten Missouri consumers under a consent judgment obtained by Attorney General Jay Nixon. The judgment and permanent injunction signed by St. Charles County Circuit Judge Ted House also prohibits DeElroy Beeler, agent for Las Vegas-based AskGT.com, from advertising or selling any investments in the state.
Nixon filed a lawsuit against the defendant in May 2005 alleging that Beeler - using the name John Montgomery - phoned Missouri consumers and made misrepresentations while attempting to sell shares of stock in AskGT.com. Several individuals wired their money to Beeler, and either received nothing in return or received stock certificates that didn't even contain a seal. At no time were those securities registered with the Missouri Secretary of State, nor was Beeler licensed to sell securities in Missouri.
“This individual was pitching too-good-to-be-true investment deals to Missourians while neglecting to include the truth,” Nixon said. “In return, all that investors received out of the transaction was aggravation and a smaller bank account. We are pleased that we are able to shut his scheme down while returning money invested back to his victims.”
All told, Beeler's victims made stock purchases ranging from $400 up to a high of $25,000.
Under the judgment, Beeler is now prohibited from selling or advertising any investments or securities in the state of Missouri or to any Missouri resident. He is also ordered to pay $45,000 to the Merchandising Practices Restitution Fund as restitution to ten consumers who purchased stock in AskGT.com through the defendant.