SEC halts Custable's Worldwide, a Wolfson graduate
Securities and Exchange Commission
Tue 22 Jul 2003 Street Wire
by Brent Mudry
1. This case concerns an ongoing scheme to violate the registration, antifraud and reporting provisions of the federal securities laws. Defendant Frank J. Custable, Jr. ("Custable"), a recidivist securities law violator, has orchestrated the multi-faceted scheme from its inception in 2001 until the present.
Custable's scheme has involved the securities of at least seven small public companies and has generated more than $4 million in ill-gotten gains.
To carry out his scheme, Custable has used Defendant Suburban Capital Corporation ("Suburban Capital"), a company controlled by Custable that purports to provide financing and consulting services to small public companies, as well as Defendants Sara Wetzel ("Wetzel"), and Francis Scott Widen ("Widen"), two individuals who work for Custable at Suburban Capital.
The Company currently maintains offices at 1959 S. Power Rd, Bld 103, Ste 158, Mesa, Arizona 85206. The above office space is being provided at no cost to the Company by Gino Carlucci, the Company's current president. The Company has no formal lease agreement with Mr. Carlucci and expects to acquire a lease or other office space upon acquiring operations
This Settlement Agreement ( agreement is made and entered into between SUBURBAN CAPITAL CORPORATION ( suburban , on the one hand, VECTOR HOLDINGS CORPORATION ( Vector), DIVERSIFIED HOLDINGS X, INC. ( DHX and RICHARD SURBER ( Surber on the other hand. The above-named parties are referred to collectively hereinafter as he Parties.
VECTOR HOLDINGS CORPORATION
By: _Gino Carlucci___________ Dated: _____________________
Its: President SUBURBAN CAPITAL CORPORATION
By: _/s/ Frank Custable_______ Dated: _____________________
Its: President DIVERSIFIED HOLDINGS X, INC.
By: __/s/ Richard Surber________ Dated: _____________________ Its: President