Fraud Stock deal

My cousin asked me to buy shares of a NASDAQ listed company stock..which he was working in..he never told me whatkind of shares will be sold..He himself also owned owned a part of company stock. After i sent him $40K he promised to delivered the papers in three weeks. 8 months later and after tons of calls, he sent a paper notrized stating that he is selling some stock optionsfrom his stock, which will be matured in december 2001. The stock papers clearly state that these shares cant be sold or transferred till matured, neither these shares are registered with SEC comission. How he can sell this ???? and rip some ond off ..is he breaking any securities SEC regulations. the stock is now worth very little. much of money seems lost. please help. I am in dire need of good legal advice
any advice will be appreciated

I am a law school graduate. WHat I offer is mere information, not to be construed as forming an attorney client relationship.

Well, let's see -- he could be violating a number of SEC laws like insider trading, fraud, etc.

As to you, you are also potentially liable for insider trading --> i say potentially.

You need good legal advice? Immediately seek a Corporate law/securities attorney to help you.

How? Try attorneypages.com or call your state bar association and ask for lawyer approval.

Also, here is a site with some information on corporate law and the SEC for you to read:
http://library.lp.findlaw.com/scripts/getfile.pl?file=/firms/phjw/phjw000018.html