SEC Investigates Whitemark-NFC Acquisition Deal

ORLANDO-The enforcement division of the Securities and Exchange Commission has asked locally based Whitemark Homes Inc. for “certain accounting and other records” covering the period since July 2001 and especially for documentation on the company’s acquisition of North Florida Consulting Inc. in November 2001. Whitemark and the former owners of NFC rescinded the acquisition as of April 18, 2003.

Larry White, president and CEO of the 20-year-old, vacation resort communities development firm, says the company “intends to cooperate fully with the SEC’s investigation.”

In a prepared statement, White says “the company hopes the SEC’s investigation can be concluded as quickly as possible. These last 12 months have been very difficult and we are eager to focus, once again, our entire energies on homebuilding.”