PRESS RELEASE
Oklahoma Department of Securities Obtains Temporary Injunction and Appointment of Receiver for Admax International, Inc.
 
For Immediate Release
Tuesday, June 23, 1998 
 
Contact: Irving L. Faught, Administrator
  Oklahoma Department of Securities
  405-280-7700
 
 
Oklahoma City/////  The Tulsa County District Court ordered temporary injunctions, issued restraining orders and appointed a receiver to take immediate possession of the assets of a Tulsa company, Admax International, Inc. and three of its principals. George Elias, Sr., George Elias, Jr. and James Brown. Irving L. Faught, Administrator of the Oklahoma Securities Commission filed a Petition seeking the court action today. A hearing on the request for the permanent injunction is scheduled for July 15, 1998, in the Tulsa County district court.

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The action comes as a result of an investigation by the Department of Securities that resulted in the allegations that Admax violated the Oklahoma Business Opportunity Sales Act in it sales, through nationwide Internet advertising, of various Admax computers and related services. Admax failed to register its business opportunities sales as required by the Oklahoma law. Admax also made misrepresentations about its business opportunities, including that it would pay commissions on sales of its products, that a purchaser could obtain a free computer upon sales of computers to six other persons and that a purchaser could earn a large income in a short period of time. Additionally, Admax failed to disclose information about the prior history of its principals

Faught said; "When the Department heard about Admaxís activity earlier this month, its attorneys and investigators moved quickly, in cooperation with the Tulsa Better Business Bureau and the Oklahoma Attorney Generalís office, to investigate complaints and to take action to protect potential purchasers nationwide."
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This press release, and related information, is available on the Securities Commission's web site at securities.ok.gov, by phone at (405) 280-7700, or in writing at:  Oklahoma Securities Commission, 204 North Robinson, Suite 400, Oklahoma City, OK 73102.