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Show The Enterprise Review , November 24, 1976 Page 13b Fraud Investigation Continued From Page 2b August of 1975 and expressed an interest in the company. Jimenez, according to Genova, agreed to make him vice president for the pleasure of the company. Genovas name appeared in various prospectus and analysis reports issued by and Genova, all the while, was negotiating loan contracts on behalf of and various local borrowers. In a letter to Jimenez, dated Aug. 6. 1976, Genova demanded that Jimenez accept his resignation as vice president and remove his name from all records. Genova also demanded return of $48,050 in the form of one percent sent to deposits on loans to be made by that corporation. In another letter to him two months later, on Oct. 29, 1976, Genova made further demands of Jimenez to return deposits of clients and threatened to seek help from the Attorney General, the Securities and Commission and the FBI if the money was not refunded. Pm under the corporate wing of in a and circulated prospectus analysis by Joseph Jimenez in Salt Lake last summer. Jimenez (Mike) was also charged in the Tri-Del- ta Tri-Del- ta same criminal complaint with violations of the Idaho Securities Act. Those charges were dismissed following his plea of guilty to the charge of obtaining money by false Tri-Del- ta pretenses. His sentence suspended and ordered to make restitution, Mike Jimenez was placed on probation for five years. Tri-Del- ta Promised to Make Good Tri-Del- ta Operating from Garden Grove, Joseph Jimenez has reportedly contacted several of the borrowers to whom he allegedly owes money. He has promised prompt and full payment of all debts to those people. Genova also claims he contacted Jimenez and that refunds were promised. I talked with him on the phone and I I said I was explained meant business. going to the authorities if full repayment was not made, Genova said. He promised the money would be sent to all the people who had sent funds to It is possible that Jimenez has left some other unsettled matters behind him. Dick Chatham, Chatham Securities Corp., Salt Lake, said that Jimenez signed a promissory note agreeing to pay for services rendered by his securities firm. Chatham refused to say how much was owed to his company by Jimenez but one source estimated the amount near $50,000. Tri-Del- ta Ex-chrn- 8 ge Investigation Progresses Tri-Delt- a. State investigator John Thompson claims to have made considerable progress in the investigation and said a man convicted earlier in Bingham County, Idaho could be Joseph Jimenez. Mike Jimenez, Garden Grove, Calif., was sentenced on March 23, 1970, to serve not more than five years in the Idaho State Penitentiary following his plea of guilty to obtaining $12,000 by false pretenses from two residents of Bingham County, Idaho. The conviction involved the sale of stock . of Sew-TidInc., an Idaho corporation. y is one of the companies listed The Attorney Generals investigation is expected to conclude sometime in December. The Securities and Exchange Commission declined to say whether or not they will y, investigate the matter. Sew-Tid- 'rx KEEP IT MOVING! If you want to keep your business moving, the Review can help. If youre running a business, you cant afford to be uninformed. The more familiar you are with your total business environment, the better able youll be to take advantage of its opportunities. Because the Review is a specialized publication, we can provide our readers with the most complete, accurate, and diverse reports about the Utah business scene. Growth centers, sales tips, retailing information, advertising analyses, real estate, finance, investment opportunities, industry trends, legislation, management problems (and solutions) and more. It's all in the Utah Enterprise Review each week. 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