Oklahoma City, Oklahoma
For Immediate Release
Tuesday, March 24, 2009
Contact: Irving Faught, Administrator
  Oklahoma Department of Securities
Oklahoma City/////  The Oklahoma Department of Securities filed a civil action today in Oklahoma County District Court alleging that Oklahoma City residents, Brian McKye, Joe Don Johnson, and James Farnham, are fraudulently selling securities in the form of investment notes issued by Global West Funding, Ltd., Co.; Global West Financial LLC; Sure Lock Financial, LLC; Sure Lock Loans LLC; and The Wave-Goldmade, Ltd. Each of these Oklahoma City-based entities was also named as a defendant. The petition alleges that defendants sold securities promising monthly payments of profits in sums of between eight percent (8%) and nineteen percent (19%), for a period of sixty (60) months. The Department alleges that defendants are actually orchestrating a “ponzi” scheme by concealing from investors that no revenue is generated to fund the promised interest payments and that the source of all of the monthly interest payments is new investor funds. The Department further alleges that investor funds have also been diverted for non-business related purposes.

The Department also named Heritage Estate Service, LLC, an Oklahoma limited liability company, as a relief defendant. The Department alleges that Heritage Estate Service, LLC received investor assets as part of and in furtherance of the defendants’ alleged securities violations. As a result of the civil action, Judge Noma Gurich entered a temporary restraining order and an order freezing assets against all of the defendants and the relief defendant. The Department intends to seek an injunction against future offers and sales of securities in and/or from the state of Oklahoma, restitution for investors, and a civil penalty.

“This action was filed in order to put a stop to the Defendants’ activity in violation of the securities laws of this state,” said Irving L. Faught, Administrator of the Department of Securities. “Americans have become increasingly aware of the existence of ponzi schemes through the media attention devoted to the Madoff scandal out of New York. While the scheme subject to the Department’s action is believed to be much smaller in size than that of Bernard Madoff, the financial impact is just as devastating to the investors involved.” Faught added, “promises of monthly returns of between 8% and 19% sound just too good to be true and should be considered a red flag to potential investors.”

The Petition is available for review on the Department's website at www.securities.ok.gov.

The Department of Securities is charged with administration and enforcement of the Oklahoma Securities Act. The Department investigates securities fraud, the offer or sale of unregistered securities, and the sales practices of stockbrokers and investment advisers. The Administrator may seek administrative or civil sanctions against any person who violates state securities regulations and, when appropriate, make criminal referrals.
Petition for Permanent Injunction and other Equitable Relief
This press release, and related information, is available on the Department of Securities' web site at www.securities.ok.gov, by phone at 405/280-7700, or in writing at:  Oklahoma Department of Securities, 204 North Robinson, Suite 400, Oklahoma City, OK 73102