2 South Floridians charged in football-related scam


It could have been the best football innovation since instant replay: a laser-based, luminescent green line — visible to football fans at home and in the stadium — demarking a first down.

Promoters said it could reduce the need for time-consuming measurements by game officials, speed up the proceeding and increase the time available for beer ads and erectile dysfunction commercials, two staples of NFL coverage.

Alas, it was all a scam aimed at separating investors from their money, the Securities and Exchange Commission said Thursday, announcing it had busted the perpetrators, who operated out of a South Florida-based boiler room.

Scott Rubens of North Miami and Peter Kirschner of Delray Beach were charged with defrauding investors, many of them seniors.

“Kirschner and Rubens used boiler-room and high-pressure sales tactics to swindle seniors into believing they could help revolutionize the way we watch football,” said Eric I. Bustillo, director of the SEC’s Miami regional office. “But these fraudsters merely did an end run with investor money.”

The company run by Kirschner and Rubens, Premier Consulting, struck an agreement with Thought Development Inc. (TDI), developer of the technology, to solicit investors and sell unregistered company stock to provide the Miami-based company with capital.

Investors were told the laser-line technology was going to be used during NFL games, including the Super Bowl. In fact, the SEC says there was no such agreement.

TDI severed its relationship with Premier Consulting when the former found out about the lies being peddled to investors and learned of the outsized commissions being paid to sales personnel, the SEC alleged.

Undeterred, Kirschner and Rubens prolonged the scheme by creating a different company, Advanced Equity Partners. They continued to dupe investors.

The SEC said Premier Consulting and Advanced Equity raised more than $2.4 million from about 200 investors between July 2011 and November 2012.

The two men will be barred from participating in penny stock offerings. Monetary sanctions will be determined at a hearing in the future.

The SEC filed a separate complaint in federal court against TDI and its chairman, Alan Amron, alleging securities registration violations.

Read more Miami-Dade stories from the Miami Herald

Miami Herald

Join the

The Miami Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

The Miami Herald uses Facebook's commenting system. You need to log in with a Facebook account in order to comment. If you have questions about commenting with your Facebook account, click here.

Have a news tip? You can send it anonymously. Click here to send us your tip - or - consider joining the Public Insight Network and become a source for The Miami Herald and el Nuevo Herald.

Hide Comments

This affects comments on all stories.

Cancel OK

  • Marketplace

Today's Circulars

  • Quick Job Search

Enter Keyword(s) Enter City Select a State Select a Category