Russell County couple indicted for alleged Securities Act violat - Local news, weather, sports Savannah | WSAV On Your Side

Text Description

Russell County couple indicted for alleged Securities Act violations

Posted: Updated:
A Phenix City couple has been indicted on alleged violations of the Alabama Securities Act. Jose Roberto Torres and Tammy Torres were arrested on March 5 and taken to the Russell County jail.  Jose Torres' bond was set at $750,000.  Tammy Torres' bond was set at $50,000.

The indictment alleges that Jose Torres offered and sold unregistered investment contracts for ATM/EPS, Inc. to Alabama investors.  The couple reportedly told the investors that their funds would be placed in automatic teller machine terminals, to be used as vault cash, and that investors would receive monthly returns on their funds placed in the ATM terminals.  The indictment also alleges that the investor funds were used by the Torres's to pay other investors and for unrelated personal expenses.

Jose Torres is charged with 19 total counts including: the sale of securites by an unregistered agent, the sale of unregistered securities, employing a scheme to defraud, theft of property, and other charges.  Tammy Torres was charged with one count of securities fraud.

The securities fraud and theft charges are punishable by a maximum of 20 years in prison and a $25,000 fine per count. 

Phil Scoggins

After taking 16-year break from broadcasting, Phil rejoined WRBL as a news anchor where he has been ever since. More>>

  • Most Popular StoriesMost Popular StoriesMore>>

  • VIDEO: Intense gator battle at Odessa golf course

    VIDEO: Intense gator battle at Odessa golf course

    Friday, July 25 2014 10:56 AM EDT2014-07-25 14:56:27 GMT
    YouTube imageYouTube image
    An amazing video of two big gators locked in an intense fight might have you wondering how something so dangerous could happen at a golf course. A golfer shot the video using a cell phone
    An amazing video of two big gators locked in an intense fight might have you wondering how something so dangerous could happen at a golf course. A golfer shot the video using a cell phone
  • Birmingham man's penis amputated during circumcision, according to Jefferson County lawsuit

    Birmingham man's penis amputated during circumcision, according to Jefferson County lawsuit

    Thursday, July 24 2014 7:39 PM EDT2014-07-24 23:39:17 GMT
    The man says he was not warned that a circumcision procedure could lead to a penis amputation.
    The man says he was not warned that a circumcision procedure could lead to a penis amputation.
  • Ice Cream That Doesn't Melt

    Ice Cream That Doesn't Melt

    Mom shocked after son leaves his ice cream sandwich in the heat for 12 hours and it does not melt.We are definitely seeing the type of weather where you want ice cream, but how would you feel about eating one that didn't melt? Well, a mom from Cincinnati gave her ice cream sandwiches from Walmart. She says one of them was left uneaten, outside in the heat, and it barely melted. Christie Watson says she was confused. She says the ice cream sandwich retained its shape and consistency for hours...
    Mom shocked after son leaves his ice cream sandwich in the heat for 12 hours and it does not melt.We are definitely seeing the type of weather where you want ice cream, but how would you feel about eating one that didn't melt? Well, a mom from Cincinnati gave her ice cream sandwiches from Walmart. She says one of them was left uneaten, outside in the heat, and it barely melted. Christie Watson says she was confused. She says the ice cream sandwich retained its shape and consistency for hours...
  • Crime WatchMore>>

  • Attorneys argue motions ahead of Kareem Lane retrial

    Attorneys argue motions ahead of Kareem Lane retrial

    Friday, July 25 2014 6:42 PM EDT2014-07-25 22:42:19 GMT
    Kareem Lane in good spirits before August retrialKareem Lane in good spirits before August retrial
    A new trialisabout to startfor Kareem Lane, the man accused of killing Muscogee County school superintendent Jim Burns in 1992. A hung jury resulted in a mistrial in 2012, but now the lawyers are prepared to start all over again. Friday defense attorney Stacey Jackson and the prosecution team stood before Judge Bobby Peters to argue motions before Lane's retrial starts in August. There is nonew evidence in the case against Lane, who came under suspicion after witnesses said they saw his truc...
    A new trialisabout to startfor Kareem Lane, the man accused of killing Muscogee County school superintendent Jim Burns in 1992. A hung jury resulted in a mistrial in 2012, but now the lawyers are prepared to start all over again. Friday defense attorney Stacey Jackson and the prosecution team stood before Judge Bobby Peters to argue motions before Lane's retrial starts in August. There is nonew evidence in the case against Lane, who came under suspicion after witnesses said they saw his truc...
  • Caneya Webb family speaks out after murder trial

    Caneya Webb family speaks out after murder trial

    Friday, July 25 2014 6:23 PM EDT2014-07-25 22:23:04 GMT
    Caneya Webb leaves behind three children, the youngest of whom is Newsome's daughterCaneya Webb leaves behind three children, the youngest of whom is Newsome's daughter
    The day after a Russell County jury found Curtis Newsome guilty of murder, the victim's family is breathing a sigh of relief.During the four-daytrial, Newsome described how he killed his pregnant girlfriend, 26-year-old Caneya Webb, in a fit of rage after he found a Facebook message to her from another man last June. He punched her in the back of the head and strangled her until she was dead, leaving her tied with aUSB cord in the bathtub for her father to find. It took the jury a mere 17 min...
    The day after a Russell County jury found Curtis Newsome guilty of murder, the victim's family is breathing a sigh of relief.During the four-daytrial, Newsome described how he killed his pregnant girlfriend, 26-year-old Caneya Webb, in a fit of rage after he found a Facebook message to her from another man last June. He punched her in the back of the head and strangled her until she was dead, leaving her tied with aUSB cord in the bathtub for her father to find. It took the jury a mere 17 min...
  • PHOTOS: Opelika Circle K robbed

    PHOTOS: Opelika Circle K robbed

    Friday, July 25 2014 4:30 PM EDT2014-07-25 20:30:44 GMT
    Opelika police release images showing Thursday's robbery at a Circle K.Opelika police release images showing Thursday's robbery at a Circle K.

    Opelika police hope someone will recognize robbery suspects and call authorities.

    Opelika police hope someone will recognize robbery suspects and call authorities.

Powered by WorldNow

1430 East Victory Drive
Savannah, GA 31404

Telephone: 912.651.0300
Fax: 912.651.0320
Email: newsemailalert@wsav.com

Can't find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.