Florida Precious Metals Fraud and Misrepresentation Litigation and Arbitration Attorney

Securities and Exchange Commission v. 3 Eagles Research & Development LLC, Harry Dean Proudfoot III, Matthew Dale Proudfoot, Laurie Anne Vrvilo and Dennis Ashley Bukantis, Civil Action No. 3:12-cv-01289-ST (D. Oregon, filed July 17, 2012)


The Securities and Exchange Commission recently announced that it has obtained Final Judgments against defendants Matthew Dale Proudfoot (“Matthew”) and Laurie Anne Vrvilo (“Laurie”) in district court litigation in which the SEC alleged they participated in a gold mine investment scheme. According to the SEC’s Complaint, Matthew and Laurie falsely promised investors whopping returns from a gold mining operation while investors’ money was actually spent on family cars, jewelry, vacations, and vitamin supplements.

On July 17, 2012, the SEC filed a Complaint alleging that Harry Dean Proudfoot III of Mt. Vernon, Ohio, and his children Matthew of Colbert, Wash., and Laurie of Tigard, Ore., raised $2.7 million from approximately 140 investors in 23 states through their Portland, Oregon-based company 3 Eagles Research & Development LLC (3 Eagles).

The SEC’s complaint charged 3 Eagles, Harry Proudfoot, Matthew Proudfoot and Laurie Vrvilo with violations of Sections 5(a), 5(c) and 17 (a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5(a), (b) or (c) thereunder. The complaint also charges Bukantis with violating Section 15(a)(1) of the Exchange Act by selling securities as a unregistered broker. The complaint seeks permanent injunctions, disgorgement with prejudgment interest and civil monetary penalties.

In their Consents to the Final Judgments, Matthew and Laurie agreed, without admitting or denying the Complaint’s allegations to the entry of permanent injunctions prohibiting their future violations of Sections 5(a), 5(c) and 17 (a) of the Securities Act and of Section 10(b) of the Exchange Act and Rule 10b-5(a), (b) or (c) thereunder. Matthew and Laurie also agreed to be jointly and severally liable for the disgorgement of the approximately $2.72 million raised from 3 Eagles investors between September 2009 and October 2011, plus prejudgment interest on that amount. Based upon the financial information submitted by Matthew and Laurie to the Commission, the Final Judgment does not impose any civil monetary penalties against them.

The SEC’s case is still pending against 3 Eagles, which has defaulted in the litigation, and against Harry Proudfoot and Dennis Bukantis, who have filed answers in the litigation.

Contact Us:

With extensive courtroom, arbitration and mediation experience and an in-depth understanding of securities law, our firm provides all of our clients with the personal service they deserve. Handling cases worth $25,000 or more, we represent clients throughout Florida and across the United States, as well as for foreign individuals that invested in U.S. banks or brokerage firms. Contact us to arrange your free initial consultation.

At the Fort Lauderdale Law Office of Russell L. Forkey, we represent clients throughout South and Central Florida, including Fort Lauderdale, West Palm Beach, Boca Raton, Sunrise, Plantation, Coral Springs, Deerfield Beach, Pompano Beach, Delray, Boynton Beach, Hollywood, Lake Worth, Royal Palm Beach, Manalapan, Jupiter, Gulf Stream, Wellington, Fort Pierce, Stuart, Palm City, Jupiter, Miami, Orlando, Maitland, Winter Park, Altamonte Springs, Lake Mary, Heathrow, Melbourne, Palm Bay, Cocoa Beach, Vero Beach, Daytona Beach, Deland, New Smyrna Beach, Ormand Beach, Broward County, Palm Beach County, Dade County, Orange County, Seminole County, Martin County, Brevard County, Indian River County, Volusia County and Monroe County, Florida. The law office of Russell L. Forkey also represents South American, Canadian and other foreign residents that do business with U.S. financial institutions, investment advisors, brokerage and precious metal firms.

Contact Information