U.S. Securities & Exchange Commission
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U.S. Securities and Exchange Commission

Credit First Fund, LP, David R. Lund, et al.

On December 15, 2005, the SEC obtained a temporary restraining order, asset freeze, appointment of a Temporary Receiver, and other relief to stop an ongoing Ponzi scheme. According to the SEC's complaint, from April 2001 to the present, David R. Lund through entities he controls-Credit First Fund, LP, Credit First, LLC, Credit First Income Plus, LLC, Investors First Financial Services, Inc., and Investors Guild, Inc.-fraudulently raised at least $10.7 million from over 200 investors by cold-calling many elderly individuals nationwide to solicit funds. For more information about the SEC's action, you can read Litigation Release No. 19497 (Dec. 16, 2005).

The Court appointed Thomas F. Lennon as Temporary Receiver. For the latest information about the Receivership, you can visit the Receiver's website.


Modified: 01/31/2006