Three Pinellas residents fined for security violations
March 9, 2020 - A federal judge in Tampa has entered final judgments against three Pinellas County residents in connection with securities fraud. The three are David Dreslin, a CPA who lives in Seminole; Michael Toups, a former broker who lives in Belleair; and his wife, Leslie Toups, a journalist and marketing professional. The Securities and Exchange Commission said they filed false and misleading statements about a public shell company they had created, a news release said. The court ordered Dreslin and Michael Toups each to pay a $160,000 civil penalty, and Leslie Toups to pay a civil penalty of $25,000. In addition, the court ordered Dreslin to pay disgorgement of $183,438 and prejudgment interest of $30,197. Dreslin and Michael Toups also were permanently barred from participating in an offering of a penny stock and from serving as an officer or director of any public company, and barred Leslie Toups from the same conduct for a period of five years. The defendants neither admitted nor denied the SEC's allegations.