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

Oracle Trust Fund, Jubilee Trust Fund, Elkosh Trust Fund, Jerome DeFries and Kevin McQueen

On November 16, 1999, the SEC obtained emergency relief, including asset freezes against all defendants and relief defendants in connection with a Ponzi scheme. The SEC alleged that the defendants fraudulently raised more than $7 million from about 100 members of certain churches, purportedly to trade in high-yield foreign bank instruments in a secret "prime bank" trading market. For more information about the SEC's action, you can read Litigation Release No. 16355 (November 16, 1999).

The Court appointed David M. Rapp as Receiver. Mr. Rapp has about $900,000 in assets for distribution, but has received approximately $6.5 million in claims. The Receiver continues to seek assets from the defendants. The Receiver sent out claims forms to investors. If you have not received a claim form, you can request a form in writing from the Receiver at the address below. The Receiver will accept completed claim forms only through the mail (no faxed documents) for an investor to participate in any distribution.

David M. Rapp
Hinkle Elkouri Law Firm LLC
301 N. Main, Suite 2000
Wichita, KS 67202-4820
Phone: (316) 267-2000


Modified: 06/14/2004