Sebastian International Enterprises, Inc.
On August 20, 1999, the SEC obtained temporary restraining orders, asset freezes, and other emergency relief against Sebastian International Enterprises, Inc., and its principals, Ferdinand and Jan Sebastian, in connection with a Ponzi scheme. The SEC alleged that the defendants raised over $20 million from more than 500 investors nationwide, purportedly through the fraudulent sale of unregistered promissory notes and limited liability partnerships. For more information about the SEC's action, you can read Litigation Release Nos.16257 (August 20, 1999),16572 (May 31, 2000), and 16573 (May 31, 2000).
The Court appointed Dave Almstead, a longtime television and sports industry
executive, as Receiver, and Paul N. Mascia as the attorney for the
Receivership. They are currently reviewing opportunities for the sale or future
exploitation of the Receivership's primary asset, the TV series "Real Life
101" (and its intellectual property rights). For information about
the Receivership, you can contact Mr. Mascia at 321-283-5955
or 888-876-9991 (toll free).