Wellington Bank and Trust, Ltd. et al.
On February 27, 2001, the SEC obtained permanent injunctions against Wellington Bank and Trust, Ltd., John E. Brinker, Jr., Gary J. Bentz, and other defendants. The SEC alleged that the defendants operated a Ponzi scheme that raised at least $7 million by selling investments in a fictitious prime bank trading program. For more information about the SEC's action, you can read Litigation Release No. 16915 (Feb. 28, 2001).
On March 21, 2001, the Court appointed James A. Knauer as Receiver. Mr. Knauer has set up a website where investors can read information about the status of the Receivership.