A court restrained a securities enterprise.
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Ray L. Waid of Upland and his son Brian of Alta Loma were ordered by the U.S. District Court in Los Angeles not to sell investment contracts in violation of anti-fraud provisions of the federal securities laws or dispose of their assets or records. The Securities and Exchange Commission requested the temporary order in filing a civil complaint accusing the men of violations involving about $2 million of funds from investors, who include members of an Alta Loma church.
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