Agoura Hills Man Named in SEC Fraud Complaint

The Securities and Exchange Commission has filed a complaint against an Agoura Hills businessman and an associate, charging the pair with fraud and violations of federal securities laws.

In 1986, the suit says, Steven L. Perelman, who lives in Agoura Hills, and Gary T. McWhorter, a Minnesota resident, ran a now-defunct Minnesota company, Group International Services Ltd., which raised money for blind pool investments through offices in Westlake Village and Santa Monica. From March to November, 1986, Perelman and McWhorter raised $832,500 from about 60 investors, telling the investors that most of the proceeds would be used to develop highway rest stops, each to be called “McStop,” featuring oversized McDonald’s restaurants, the suit says.

But, the complaint says, Group International had no relationship with McDonald’s Corp. that would have allowed it to develop the rest stops. It also says sales agents for the company made false statements to investors and failed to tell investors that most of their funds would go to pay Group International expenses and to fund another company run by Perelman and McWhorter.

The suit, filed in U. S. District Court in Chicago earlier this month, seeks an injunction against Perelman and McWhorter prohibiting them from further violations of securities laws and a return of investors’ funds.

Perelman could not be reached for comment.