Woodland Hills Firm Faces Fraud Charges

Regulators charged a Southland man with securities fraud in connection with the sale of $828,000 worth of stock in a company investors were told would make and distribute latex gloves and would go public early this year. The Securities and Exchange Commission said a federal judge issued a temporary restraining order and froze the assets of Sam E. Harris and Assured International Inc. of Woodland Hills. According to the SEC, the company has manufactured no latex products and almost a quarter of the money went straight to Harris. Harris’ attorney could not be reached for comment. Regulators allege that Harris sold Assured stock to 82 “unsophisticated investors” throughout the U.S. in a boiler-room telephone operation. The SEC is seeking restitution and civil penalties from Harris.