February 1, 1994 |
Home Theater Products Inc. in Anaheim has acquired Changer Development Group from BAC Corp. for $200,000 plus 300,000 shares of stock. CDG owns the rights to BAC Corp.'s CD Storage and Retrieval System. The company calls the system a compact disk library system, capable of playing music from more than 1,000 CDs.
August 4, 1998 |
Paul R. Safronchik, the former chief executive of the now-defunct Home Theater Products International Inc., was sentenced Monday to three years in federal prison for a scheme in which his company logged millions of dollars of bogus sales. Prosecutors said investors in the Anaheim company lost more than $20 million as a result of the scheme. Safronchik, 37, of Aurora, Ore., also was ordered by Judge Gary L. Taylor to pay $300,000 in restitution to investors.
July 1, 1998 |
Douglas Roy, former controller of the now-defunct Home Theater Products International Inc., has been sentenced to six months' home detention for his role in a bogus sales scheme at the Anaheim company. Roy, a 29-year-old Pomona resident, pleaded guilty last September to conspiracy to commit securities fraud and could have received up to five years in prison. In addition to the home detention, he was placed on three years' probation by U.S. District Judge Gary L. Taylor in Santa Ana.
January 17, 1998 |
The former president of Home Theater Products International Inc., which collapsed in 1995 in the wake of a bogus-sales scandal, agreed to plead guilty to a charge of insider stock trading, according to documents filed Friday in federal court. Jerome A. Adamo is scheduled to be arraigned and to enter his plea at a Feb. 4 hearing in U.S. District Court in Santa Ana, Assistant U.S. Atty. David C. Marcus said.
February 5, 1998 |
The former president of Home Theater Products International Inc. pleaded guilty Wednesday to one charge of insider stock trading stemming from the 1995 collapse of the company over bogus sales figures. Jerome A. Adamo, 62, of Buena Park is the third top Home Theater executive to enter into a plea bargain with federal prosecutors, Assistant U.S. Atty. David C. Marcus said. Paul R.
October 3, 1997 |
The former chairman of Home Theater Products International Inc. has been ordered by a federal judge to pay $25.3 million to investors who bought stock in the company when 75% of its sales were bogus. Paul R. Safronchik, who pleaded guilty last December to criminal conspiracy, bank fraud and securities fraud, lost his civil case before it got to trial in U.S. District Court in Santa Ana.