HARRIS DEMPSEY BALLOW

Aliases:

"Butch" Ballow, Dempsey Harris, David Wood, Joe Gibbons, Harris Ballow, Joed Gibbons, Joedavid Gibbons, Dempey Ballow Harris, David C. Wood, Harrisbutch Ballow, Joe David Gibbons, Dempsey Ballow Harris, John Gilthorp, and John Gill

DESCRIPTION

CAUTION

Harris Dempsey Ballow is wanted in Texas for allegedly committing several white collar crimes. Beginning in 1998, Ballow caused several companies to be incorporated in Texas, Delaware, and the British Virgin Islands. Thereafter, Ballow allegedly caused the companies to open corporate accounts at various Broker-Dealers through the United States for the purpose of fraudulently acquiring stock and borrowing money on margin.

Ballow traded stock between accounts to give the appearance of significant market activity. The result was an increased demand for the stocks that Ballow was trading, due to the artificial demand he was creating for the stocks. When the overvaluation of these stocks was made public, the price decreased significantly, which led to the Broker-Dealers making margin calls on Ballow's accounts. In June 1999, the Broker-Dealers discovered that none of the accounts owned by Ballow had the assets or liquidity which had been listed in earlier agreements. As a result, the Broker-Dealers suffered losses of more than 6 million dollars.

Ballow was indicted on January 22, 2003, for a total of 12 counts, which included wire fraud, mail fraud, and money laundering. On September 16, 2003, Ballow pled guilty to one count of money laundering. He failed to appear for sentencing on December 14, 2004, and a federal warrant was issued for his arrest on December 17, 2004, in the United States District Court, Southern District of Texas.

IF YOU HAVE ANY INFORMATION CONCERNING THIS PERSON, PLEASE CONTACT YOUR LOCAL FBI OFFICE OR THE NEAREST AMERICAN EMBASSY OR CONSULATE.