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BOCA RATON STOCKBROKER ARRESTED, ANNOUNCES FLORIDA STATE COMPTROLLER

 BOCA RATON STOCKBROKER ARRESTED, ANNOUNCES FLORIDA STATE COMPTROLLER
 TALLAHASSEE, Fla., Nov. 13 /PRNewswire/ -- Boca Raton stockbroker Samuel Williams was arrested today on 29 felony charges stemming from his alleged pilfering of some $2.4 million in investor funds, State Comptroller Gerald Lewis announced.
 Williams, 50, who disappeared May 12 after Lewis' office received information about the suspected fraud, turned himself in to authorities in Broward County this morning following the issuance of charges by Statewide Prosecutor Melanie Hines Oct. 23.
 Williams, who is expected to be arraigned Monday, is charged with organized fraud and multiple counts of grand theft.
 Simultaneous with the arrest, Lewis filed an administrative action against the stockbroker, seeking the revocation of his license and fines of an indeterminate amount.
 "We will not tolerate anyone defrauding our citizens," said Lewis, whose office developed the case and referred it to the State Prosecutor for criminal prosecution.
 Williams, who worked for Walnut Street Securities in Palm Beach County, is accused of misappropriating the retirement funds of up to 15 investors. Specifically, he is charged with using the money to fund other business ventures in which he was involved and sending fictitious account statements to his clients indicating that he, in fact, had invested their money as agreed upon.
 Williams currently is being held without bond.
 -0- 11/13/92
 /CONTACT: Terence McElroy of the Florida Office of Comptroller, 904-488-4844/ CO: Florida Office of Comptroller ST: Florida IN: FIN SU:


AW-JB -- FL010 -- 0664 11/13/92 11:39 EST
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Publication:PR Newswire
Date:Nov 13, 1992
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