SEC Files Complaint Against Touch Tone

The Securities and Exchange Commission filed a complaint in U.S. District Court in Los Angeles alleging fraud by Touch Tone Partners, a Canoga Park limited partnership formed to create a 900-number dating service. The complaint alleges that BMC Enterprises, also based in Canoga Park and the managing partner of Touch Tone, raised $3.9 million from investors by promising returns ranging from 5% to 448%. The complaint alleges that investors were not told material facts about the partnerships, including that there was no factual basis for those promised returns. There was no immediate comment from Touch Tone Partners.