The agency says Natt promised to "split" any returns obtained from the bonds.

FORBES: Informer

Natt had plenty of warning the SEC was coming after him.

FORBES: Informer

"I am profoundly apologetic for the actions of unscrupulous brokers that promised the world to our organization a couple of years ago, " Natt was quoted as saying.

FORBES: Magazine Article

Despite a Beverly Hills address and phone number, the feds say PAAF is actually run out of Natt's home in the Los Angeles suburb of Palos Verdes Estates.

FORBES: Magazine Article

Further efforts to reach Natt and PAAF were unsuccessful.

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Little is known about Natt.

FORBES: Magazine Article

The feds said there were no takers, even though Natt drafted a formal offering statement, made expansive claims and went to the trouble of obtaining official Committee on Uniform Security Identification Procedures (CUSIP) registration numbers, which are issued to facilitate sale and trading of North American securities.

FORBES: Magazine Article