Denver – The Securities and Exchange Commission has filed actions in Denver against two former officers of Expanets Inc., a former Colorado-based telecommunications subsidiary of NorthWestern Corp.
The federal complaints allege that former chief executive John C. Charters and former chief financial officer Richard E. Fresia overstated the performance of and concealed problems at Expanets in 2002 as NorthWestern completed securities offerings totaling more than $800 million.
Charters has agreed to an injunction and to pay $50,000. The SEC seeks an injunction against Fresia and disgorgement.
Additional business news briefs:
DENVER
President Clinton to speak at Aurora event
The Aurora Economic Development Council will present former President Bill Clinton as the keynote speaker at the 2007 A-List luncheon, Sept. 17 at the Colorado Convention Center, presented by Opus Northwest, LLC.
The event will bring together more than 2,500 business, community and political leaders from the seven-county metro area to celebrate the economic success of Aurora and the surrounding region.
DENVER
Attorney receives civic-leader award
Les Woodward, senior counsel with the law firm Davis Graham & Stubbs LLP, received the Monte Pascoe Civic Leadership Award Tuesday at the Denver Metro Chamber of Commerce’s fifth Annual State of the City Luncheon.
The Monte Pascoe award has four criteria, and selection committee officials say the one Woodward met best was criteria No. 3: fighting for justice and equal education opportunity for all people.
The United Way Spirit of America Award went to Xcel Energy for corporate community investment.
DENVER
Whole Foods tour backs refugee farmers
Displaced organic farmers from Africa in the Somali Bantu, who were selected for the first organic urban refugee farming project at Denver’s Urban Gardens, will be the beneficiaries of two Whole Foods Market Farmers and Food Artisans Road Tour events in Denver.
One hundred percent of the proceeds from the two tour events will be donated to the Somali Bantu Farming Initiative, a program supported through Micro Business Development.
DENVER
Frontier announces Palm Beach route
Frontier Airlines announced it will begin flying daily between Denver International Airport and Palm Beach International Airport as of Nov. 15.
No other airline flies the route. Frontier will fly the route with a 132-seat Airbus A319 jet.
DENVER
Steele Street bank adding trust services
Steele Street State Bank has added trust services to its offering. The Cherry Creek-based bank, with $175 million in assets and three locations, will begin providing trust services on Aug. 1. Its name will change to Steele Street Bank & Trust.
LOVELAND
Convention center, hotel near I-25/U.S. 34
John Q. Hammons announced plans Tuesday to build an eight-story, 263-suite Embassy Suites Hotel and adjoining 75,000-square-foot convention center in Loveland, near Interstate 25 and U.S. 34.
The all-suite, luxury hotel will be owned by Hammons and managed by John Q. Hammons Hotels & Resorts.
CHARLESTON, W.Va.
Newspaper owners seek suit dismissal
The owners of Charleston’s two daily newspapers want a federal antitrust suit thrown out of court.
Denver-based ap and The Daily Gazette Co. contend in court documents filed Monday in U.S. District Court in Charleston that there’s ample reason to dismiss the case. The lawsuit, filed by the Department of Justice in May, seeks to reverse the ap’s 2004 sale of the Charleston Daily Mail to the Daily Gazette Co.
Among other things, the Daily Gazette Co. and MediaNews contend the lawsuit would do “grave damage to First Amendment principles.” The companies further argue that protections offered by the Newspaper Preservation Act and various exemptions to antitrust laws are sufficient to dismiss the case.
SEATTLE
Chinese cops seize pirated software
Chinese police have broken up two criminal organizations and seized pirated software worth $500 million, the culmination of two years of work with the FBI, officials said Tuesday.
