Global Online Direct, Inc., Bryant E. Behrmann and Larry “Buck” E. Hunter
On April 5, 2007, the SEC obtained a preliminary injunction, asset freeze and other relief against Global Online Direct, Inc., Bryant E. Behrmann and Larry “Buck” E. Hunter. According to the SEC’s complaint, Behrmann and Hunter raised millions of dollars from more than 8,000 investors through an unregistered offering and selling of interests in Global described as “loans.” The complaint further alleges that the defendants promised investors acquiring these interests effective annual returns of more than 1,100% on their principal investment through a “Secured Profit Inventory Program” or “SPIP,” comprised of pooling and utilizing the proceeds from investor funds to purchase discounted and low-cost inventory, which Global then purports to resell for a profit in various internet auction websites as well as through flea markets, street sales and more traditional retail storefronts.
For more information about the SEC’s action, you can read Litigation Release No. 20073 (Apr. 9, 2007).
On April 5, 2007, the Court appointed Michael A. Grassmueck as an independent monitor for Global. On June 5, 2007, the Court converted Mr. Grassmueck to a permanent Receiver for Global. As Receiver, Mr. Grassmueck is authorized to determine the names of the Global investors and the amounts invested in and/or loaned to Global by investors. As such, the SEC encourages investors to contact Mr. Grassmueck with information about their investments/loans atMichael A. Grassmueck
The Grassmueck Group
P. O. Box 3649
Portland, OR 97208
For more information, you can visit Mr. Grassmueck's website.