the air, and the remaining affiliates switched to similar business programming. The official website was shut down and their domain is up for sale. SEC settlement In November 2009, the Securities and Exchange Commission (SEC) alleged that Albert Kaleta and his firm Kaleta Capital Management sold $10 Million promissory notes to investors, the proceeds of which were to be lent to small businesses at 12 to 14 percent interest. Instead, the SEC alleged, the money was used to prop up the ailing Biz Radio Network and a related investment advisory firm, Daniel Frishberg Financial Services (DFFS). As a result of these regulatory issues, Kaleta's interest was bought back by the company. Kaleta is also alleged to have used investors' money to pay $1.6 million in personal expenses, including $10,000/monthly credit card bills and a Mercedes. Kaleta denied the allegations of improper use of the money. These allegations were never proven and were not part of Kaleta's settlement with the SEC. Kaleta signed a consent order neither admitting nor denying wrongdoing, and while the radio network and DFFS were not accused of wrongdoing by the SEC, both the radio network and Frishberg's investment firm will need to repay the investors, as do all other borrowers. Affiliates before closure KTEK, 1110 AM, Houston (2.5 kW) KTMR, 1130 AM, Edna (Victoria) (10 kW) References Defunct radio networks in the United States Companies based in Houston Radio stations established in 2005 Radio stations disestablished in 2012 Defunct radio stations in the United States