Wednesday, April 27, 2011

Idaho Finance Department Alleges Sky Detective Didn't Detect Much

Posted By on Wed, Apr 27, 2011 at 11:03 AM

Idaho's Department of Finance is accusing a Boise man of fraudulently promoting a high-tech tracking device. Gerald Thompson, a former Los Angeles County sheriff's deputy, was the founder of Sky Detective, an Idaho corporation. Thompson promoted a surveillance device that could be attached to vehicles or shipping containers, and a similar device to be worn as an ankle bracelet for law enforcement purposes.

The Department of Finance's complaint alleges Thompson never had a tracking device that performed as represented. He is also accused of inducing investors to buy stock in Sky Detective, with investor losses estimated to be in excess of $3.6 million.

The state is seeking a court order finding that Thompson violated state securities law and asks that he be required to make restitution to investors, prohibited from selling any securities in Idaho and fined an additional $40,000.

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