Engebretson Capital Management

A Newport Beach investment advisor has been censured and fined $150,000 for overstating his performance results by as much as 15 percentage points a year, the Securities and Exchange Commission said Monday. Lester Engebretson, owner of Engebretson Capital Management, failed to disclose that the performance results he released to Nelson Information Inc.

A Newport Beach investment advisor has been censured and fined $150,000 for overstating his performance results by as much as 15 percentage points a year, the Securities and Exchange Commission said Monday. Lester Engebretson, owner of Engebretson Capital Management, failed to disclose that the performance results he released to Nelson Information Inc.

The Securities and Exchange Commission on Wednesday accused a disbarred Santa Monica securities attorney of making more than $200,000 by selling stock he allegedly stole from two companies he worked for. The SEC alleged in a civil complaint in federal court that Kevin Quinn of Santa Monica stole 960,000 common shares of Atlantic Central Enterprises Ltd. and 300,000 shares of Advanced Laser Products Inc. in 1997 and 1998.