Securities commissioner orders Atchison business to cease selling unregistered securities in pay-per-view scheme
Media Contact: Caley Love, Director of Communications Office of the Kansas Securities Commissioner 785-296-3580 email@example.com
Robert S. Beene and Sidelight Entertainment Group sold investors unregistered securities regarding a mixed martial arts event held at the Sprint Center in Kansas City.
Topeka, KS-- Kansas Securities Commissioner Josh Ney has issued a cease and desist order against Robert S. Beene and Sidelight Entertainment Group, Inc. for multiple alleged violations of the Kansas Uniform Securities Act (KUSA). Sidelight Entertainment Inc. is a private, for-profit corporation located in Atchison, KS and has been previously registered or known by other names, including Global Warrior Challenge and Pickerswarehouse, Inc.
The cease and desist order alleges that Beene and Sidelight Entertainment Group violated the KUSA by offering and selling unregistered securities and committing securities fraud by omitting certain material facts.
The unregistered securities sold by Beene included Pay-Per-View Buy-In “points” for the Global Warrior Challenge held at the Sprint Center in Kansas City on June 29, 2013. The Global Warrior Challenge was described as a group of mixed martial arts fights, which included matches between United States and United Kingdom fighters. Points were sold to the public for $5000 per point, and at least one Kansas investor purchased points.
The order also claimed that at the time the Kansas investor purchased the points for the Global Warrior Challenge, Beene failed to disclose a material fact, thus violating the KUSA. Beene and Sidelight Entertainment Group have the opportunity to request a hearing on the matter within 30 days after service of the order.
The Kansas Securities Commissioner urges any individuals that have had dealings with Robert S. Beene or Sidelight Entertainment Group to contact the Office of the Securities Commissioner at 785-296-3307 or email firstname.lastname@example.org.
The mission of the Office of the Kansas Securities Commissioner (KSC) is to protect and inform Kansas investors; to promote integrity, fairness, and full disclosure in financial services; and to foster capital formation.
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