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

Global Assets Partners et al.

On October 1, 2001, the SEC obtained permanent injunctions and other relief against Global Asset Partners, Ltd., Global Services Group, LLC, Global Internet Fund Group, Inc. (collectively "Global"), and William Haynes, in connection with their fraudulent sale of so-called pre-initial public offering (IPO) stock and exchange traded securities. The SEC alleged that the defendants raised at least $7 million from investors located worldwide by misrepresenting when the companies would go public, the anticipated price the pre-IPO stock would trade upon becoming public, and Global's purported expertise in research and analysis. For more information about the SEC's action, you can read Litigation Release No. 17173 (Oct. 4, 2001).

The Court also appointed Jane W. Moscowitz, Esq. as the Receiver for Global. When the Receiver was appointed, Global had already ceased operations. The latest information posted about the Receivership is Ms. Moscowitz's Status Report to shareholders and creditors.

The Court has closed the Receivership and no money is remaining for distribution to investors.


Modified: 09/04/2003