For Immediate Release
Contact: Bob Walsh, Deputy for S. Nevada
(Las Vegas, NV; July 28, 2011) – Investigators from the Nevada Secretary of State’s office arrested a Las Vegas car salesman on an arrest warrant from Maricopa County, Arizona (Phoenix) on multiple counts of securities fraud. Michael Vincent Ring was arrested at the Las Vegas car dealership where he was working as a salesman, and was booked into the Clark County jail on Tuesday, July 25th. . He faces two counts of theft; four counts of sales of unregistered securities; four counts of transactions by an unregistered securities dealer; and, four counts of fraud in the purchase or sale of securities. Because the arrest was made based on a sealed grand jury indictment, more specific details of the charges are not currently available.
“This arrest is significant in that it represents an ongoing cooperative effort between the Security Division and investigators in my office and their counterparts in Arizona,” said Nevada Secretary of State Ross Miller. “Too often we hear about the breakdown in communications between various law enforcement jurisdictions, but this case and others that we’ve recently worked on with Arizona, demonstrate the value of maintaining a strong relationship. I’m proud, as always of the work of my team, and I’m grateful to their colleagues in Arizona.”
The Nevada Secretary of State’s Securities Division and their counterparts in law enforcement in various jurisdictions in Arizona have been working closely together with greater frequency in the past year or so due to the increased criminal activity in the area of securities fraud. In January 2011 Nevada Securities Division investigators arrested James Tischler, who was soliciting undercover agents in Arizona for investments in an oil and gas project in Nevada. When notified by Arizona officials, Nevada investigators made the arrest. Officials indicate they have other ongoing efforts involving interstate law enforcement relationships, but cannot reveal the nature of those activities at this time.
The warrant for Michael Vincent Ring had a $100,000 bond requirement. Arizona officials have indicated they intend to extradite him to face charges there. As in all criminal matters, the office maintains that the allegations are merely accusations and individuals are presumed to be innocent until proven guilty in a court of law.
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