Valerie Red-Horse

Valerie Red-Horse (born 1959 in California) is an actress and author of claimed Cherokee/Sioux heritage. She is a former office manager for junk bond king Michael Milken and the former CEO of an insolvent Financial Industry Regulatory Authority (FINRA) broker/dealer Native Nations Securities, which was the brokerage behind the largest payout in Securities Investor Protection Corporation history.[1]

Education and career

Early years

In 1981, Red-Horse graduated cum laude from UCLA's Theater Arts Department and further studied at the Lee Strasberg Theater Institute. Before she finished college, she started work at the now defunct Drexel Burnham Lambert as back office manager from 1978 to 1985, where she met Milken. She is married to Curt Mohl, whom she met when she was a cheerleader and he was a UCLA football player. They have four children.[2]

Red-Horse Native Productions

Later, Red-Horse became the founder, president, and principal owner of Red-Horse Native Productions, Inc., a company specializing in motion picture and television production and Native American herbal skincare and hair care products. Naturally Native (1998) was filmed by Red-Horse Native Productions, and Red-Horse was writer, producer, co-director and lead actress for the film. The movie was funded by the Mashantucket Pequot Tribal Nation of Connecticut with financing from its Foxwoods Casino and premiered at the 1998 Sundance Film Festival. Naturally Native received multiple festival awards and in 2007 Red-Horse Native Productions nationally distributed the film in Wal-Mart. But the film was not well marketed and was a commercial failure. As a result, the Pequot were hesitant to put money into any other films.[3]

Native Nations Securities and GenesisIntermedia insolvency

Red-Horse started a FINRA licensed securities Jersey City, New Jersey-based firm, Native Nations Securities, that was behind the largest payout in SIPC history.[4]

Saudi arms dealer Adnan Khashoggi, along with Ramy El-Batrawi, was the principal financier behind GenesisIntermedia, Inc. (formerly NASDAQ: GENI), a publicly traded Internet company based in Southern California. After the September 11, 2001 attacks, Khashoggi's U.S.-based checking accounts were frozen and Khashoggi was unable to make a margin call with Native Nations Securities, whose CEO and largest shareholder was Valerie Red-Horse. In turn, Native Nations and Red Horse were unable to meet their obligations on the margin loan to MJK Clearing, Inc.[5][6]

Trading in the stock of GenesisIntermedia was halted in September 2001. Khashoggi's inability to pay his margin loan to Native Nations Securities, and Native Nations (and Red Horse's) inability to pay its debts to MJK Clearing began a series of bankruptcies that ended in the largest payout in Securities Investor Protection Corporation history.[7][8] Native Nations Securities and MJK Clearing both eventually filed for bankruptcy.[9]

Notes

  1. ↑ Desai v. Deutsche Bank, July 29, 2009
  2. ↑ Quinn, William T. (September 30, 2002). "Going Native on Wall Street". NJBIZ. Retrieved August 13, 2014.
  3. ↑ Torrie, Jeremy (Summer 2005). "An Epic Battle of Whales, Rabbits & Warriors". Cultural Survival. Retrieved August 11, 2014.
  4. ↑ Hirsch, Jerry (October 11, 2001). "Brokers Face $100 Million in Losses From MJK Failure". Los Angeles Times. Retrieved August 11, 2014.
  5. ↑ In the Matter of Dean C. Reder, Securities and Exchange Commission, March 26, 2007.
  6. ↑ Mudry, Brent. "SEC files first suit in GenesisIntermedia debacle", Canada StockWatch, June 4, 2003.
  7. ↑ Form 12B-25, Notification of Late Filing, Securities and Exchange Commission, November 14, 2001.
  8. ↑ SIPC. SIPC: Bankruptcy Court Clears Sale of Troubled Minnesota Brokerage Firm 175,000-Customer Firm Failure is Largest Ever Handled by SIPC, SIPC, October 2, 2001.
  9. ↑ SIPC vs. MJK Clearing, Inc., United States Bankruptcy Court, District of Minnesota, September 30, 2006.

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