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U.S. Securities and Exchange Commission

D.W. Heath &Associates, Inc. et al.

On May 6, 2004, the SEC obtained a preliminary injunction against D.W. Heath & Associates, Daniel Heath, and four other defendants in connection with an alleged ponzi scheme.  The SEC previously obtained asset freezes.  The SEC alleged the defendants fraudulently raised at least $60 million from more than 800 elderly investors.  Specifically, the SEC alleged the defendants promised safe and secured notes with guaranteed returns of between 5.5 and 8% per year, but in fact the notes did not exist.  For more information about the SEC's action, you can read Litigation Release Nos. 18689 (May 3, 2004), 18703 (May 11, 2004), and 19287 (June 28, 2005).

The Court appointed Robb Evans as Receiver.  You can find the latest information by visiting the Receiver's website.


Modified: 07/19/2005