AND THEN, OCTOBER 1976——-
COURT ENFORCEMENT ACTIONS
BLAIDON MUTUAL INVESTORS CORPORATION
PROMOTER ENJOINED
The Seattle Regional Office announced that a decree of permanent injunction was issued on October 11 by the Honorable Donald S. Voorhees, Judge, U.S. District Court, Western District of Washington at Seattle, against Blaine D. Sampson of Seattle, enjoining him from violations of the registration, antifraud and reporting provisions of the securities laws. The defendant consented to the entrance of the permanent injunction without admitting or denying the allegations of the complaint. The complaint filed on February 5 alleged violations of the registration, antifraud and reporting provisions of the securities laws stemming from the sale of unregistered shares of common stock of Blaidon Mutual Investors Corp., limited partnership interests in 27 limited partnerships and promissory notes and evidences of indebtedness.
It was alleged that the defendants sold over four million dollars of such securities to over one thousand investors in several states while making material misrepresentations and omissions with respect to the value and marketability of the issuer securities, the profitability or risk of loss in the investments, the use of proceeds, the financial condition of the issuer, the quality or quantity of the issuers assets, the financial benefits received by the defendants, the accuracy or adequacy of financial records and statements, to name a few. (SEC v. Donald L. Wolfstone, et al., U.S.D.C., W.D.
Wash., C76-90V). (LR-76l6)
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I wasn't aware of the legal shenanigans, but the Blaidon era at channel 13 was terrific TV for me — all those old movies, and the unintentionally hilarious Bob Corcoran.
It was a breath of fresh air for channel 13 viewers. A glimmer of hope that got snuffed out due to finances. The Blaidon on-air people were clownish, incuding Don Wolfstone. Wolfstone was less believable than Bob Corcoran. Corcoran tried so damn hard to make it work at KTVW but he was beating a dead horse.
After decades of life in black and white, the Blaidon purchase of KTVW was the best thing since Bob Corcoran.
The expansion of cable TV in the early 70s helped them a lot. It was a novelty to watck 13 without "snow", and in color!