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February 22, 2001

Defunct Orange County investment firm San Clemente Securities Inc., under investigation for allegedly misleading investors about commission fees, returns on investments and safety of certificates of deposit the firm sold, is taking steps to liquidate. The company last week filed for bankruptcy protection under Chapter 7 in U.S. Bankruptcy Court in Santa Ana. It listed assets of $407,500 and liabilities of $3.3 million.

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