Olympia - The Securities Division is investigating a Tacoma-based company, Resource Development International (RDI), and its principals, James Edwards and his son David Edwards, both of Tacoma.
On March 25, 2002, the Securities and Exchange Commission (SEC) obtained a temporary restraining order, asset freezes, and other relief in connection with an alleged investment scheme operated by James and David Edwards. The SEC alleges that the Edwards, along with Gerald J. Stock, Kevin Lynds, and William Whelan, marketed the Resource Development International, Jade Asset Management and Intercoastal Group LLC trading programs by telling investors that their funds would be used overseas to trade financial instruments with the "top world banks" and that the Federal Reserve monitored the program.
The Securities Division requests that investors in RDI and related investments complete a complaint form and send it to the Securities Division with copies of all documents relating to the investment -- including, but not limited to, the front and back of cancelled checks or wire instructions.
The Securities Division complaint form may be accessed at www.dfi.wa.gov.
For more information on the SEC investigation, see www.sec.gov/litigation/litreleases/lr17438.htm.