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U.S. Securities and Exchange Commission

Edward T. Stein, et al.

On April 1, 2009, the SEC obtained a preliminary injunction and asset freeze against Edward T. Stein and seven entities he controlled ó Gemini Fund I, L.P., DISP LLC, Prima Capital Management Corp., Edward T. Stein Associates, Ltd., Vibrant Capital Corp., Vibrant Capital Funding I LLC and G&C Partnership Joint Venture (named in the Complaint as Relief Defendants) in connection with an alleged Ponzi scheme. According to the Complaint, Stein fraudulently induced individuals to invest in Gemini and DISP and then deceived investors by producing false statements reflecting healthy returns over the life of their investments. In fact, the SEC alleged that Stein converted millions of dollars from investors and, most recently, a single client to pay off investors and pay personal expenses, including the purchase of a million dollar Manhattan condominium.

For more information about the SECís action, you can read Litigation Release No. 20983.

On April 14, 2009, the Court appointed H. Thomas Moran, II, as Receiver over the assets of Stein and the Relief Defendants. For the latest information about the Receivership, please visit the Receiver’s website at http://esteinreceivership.com.

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


Modified: 5/29/2013