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U.S. Securities and Exchange Commission

Ben-Wal Leasing, Ben-Wal Management, and Jerry E. Benson

On September 2, 2009, the SEC obtained a preliminary restraining order, asset freeze, permanent receiver and other emergency relief against Jerry E. Benson, Ben-Wal Leasing Company and Ben-Wal Management, Inc. for allegedly perpetrating an investment fraud targeting seniors at mobile home park communities throughout California.

According to the complaint, since 1990, Benson offered and sold Ben-Wal Leasing promissory notes, guaranteeing annual returns of 12% - 18%. The SEC also alleges that Benson falsely told investors their funds would be used to purchase printing equipment that would be leased to printing companies and that no investor had ever lost money with Ben-Wal. Instead, the SEC alleges that investor money was transferred to CTR Web Printing, Inc., a company owned and operated by Bensonís son, Scott W. Benson. In addition, the SEC alleges that Benson did not disclose to investors that CTR was, in essence, the only lessee of printing equipment, CTR was not regularly making its lease payments to Ben-Wal Leasing and that Ben-Wal Leasing was using investor funds to make payments to previous investors in a Ponzi-like fashion.

For more information about the SECís action, you can read Litigation Release No. 21188 (Aug. 27, 2009)

The Court appointed Dennis M. Murphy, CPA as Receiver. For information about the Receivership, you can visit the Receiverís website

http://www.sec.gov/divisions/enforce/claims/benwalleasing.htm


Modified: 10/13/2009