Natural Health Trends Corp. (BHIP) announced yesterday that the SEC has completed its investigation of the company and others and notified the company by letter dated September 12, 2008, that it does not intend to recommend any enforcement action against the company itself. On September 4, 2008, the SEC announced that it filed settled enforcement actions alleging securities fraud against two former officers of Natural Health, Mark Woodburn and Terry LaCore. Mr. Woodburn is former president, director and chief financial officer of Natural Health and Mr. LaCore is a former director of the company and the former chief executive officer of NHT Global, Inc., a subsidiary. Both men resigned from the company in late 2005.
As part of the SEC settlements, Woodburn and LaCore each agreed to a five-year officer and director bar as well as civil penalties.