SEC Strikes Deal With Raleigh Business
Posted March 18, 1998
RALEIGH — A Raleigh-based company is back in business after being shut down by the federal government. The Security and Exchange Commission has entered into an agreement with International Heritage Incorporated.
The SEC says the company can sell products, but cannot recruit new members. The agreement also says the company's president, Stan Van Etten, cannot be involved in day-to-day business.
International Heritage was shut down Monday when the SEC accused it of running a pyramid scheme. A federal judge in Atlanta will hear arguments Tuesday to decide who should run the company and how it should be run.