The Securities and Exchange Commission today filed civil fraud charges against two promoters for illegally making millions of dollars in an alleged get-rich-quick stock trading system they touted on TV and at investor workshops at hotels in dozens of cities nationwide, including Honolulu.

The Commission's complaint alleges that Linda Woolf and David Gengler, both of Utah, duped seniors and others who had attended free introductory seminars into believing they would make extraordinary stock market profits if they bought expensive "Teach Me to Trade" classes, mentoring, and computer software.

In order to con victims into paying as much as $40,000 for TMTT products and services, the Commission alleges that Woolf and Gengler lied about their success with the trading system, when in truth neither Woolf nor Gengler ever purchased TMTT's products or became successful traders.

Gengler led an investor workshop April 28-30, 2005 in Honolulu.