Travis E. Correll, individually and doing business as Horizon Establishment, et al.
On December 7, 2005, the SEC obtained temporary restraining orders and asset freezes against Travis E. Correll, individually and doing business as Horizon Establishment, and his companies, The Net Worth Group, Inc. and Travis Correll & Company, Inc., in connection with an alleged Ponzi scheme. The SEC also sued the following individuals and companies:
Gregory Thompson and his company TNT Office Supply, Inc.
In addition, the SEC named the following relief defendants:
Banner Shield, LLC
According to the complaint, from at least July 2004 to the present, the defendants offered and sold interests totaling possibly as much as $36 million in purported foreign and international bank deposit programs to at least a thousand investors throughout the United States. The SEC claimed the defendants enticed investors by promising monthly returns of four to 12 percent, with "no risk" to their investment principal, and promised and paid "intermediary fees" for referring new investors.
The SEC further alleged that, in reality, none of the investor funds were invested in any trading program and all "investment returns" were paid from funds obtained from new investors. For more information about the SEC's action, you can read Litigation Release No. 19492 (Dec. 12, 2005).
The Court appointed Gregory Hays as Receiver. For the latest information about the Receivership, you can visit the Receiver's website.