Gilbert A. Zwetsch and James H. Ridinger
(Market America, Inc.)
On May 4, 1999, the SEC filed a civil enforcement action in federal court charging Gilbert A. Zwetsch and James H. Ridinger with securities fraud. Without admitting or denying the SEC's allegations, Zwetsch and Ridinger agreed to be enjoined from further violations of the federal securities laws. They also agreed to pay $1,791,634 in disgorgement and prejudgment interest into a fund to pay defrauded purchasers of Market America, Inc. common stock according to a plan of distribution proposed by the SEC. For more information about the SEC's action, you can read Litigation Release No. 16131A (May 4, 1999).
On April 29, 2002, the Court approved the SEC's plan of distribution and appointed Jerry A. Isenberg as Receiver to take control of the defendants' assets. Under the plan, the fund will be distributed to persons who purchased the common stock of Market America, Inc. on specific dates in 1994, 1995, and 1996. The specific dates can be found in a
Claim Form prepared by the Receiver.
The Receiver has made two distributions totaling about $657,000. The
Receiver does not expect to make any further distribution.
If you have any questions, please call the Receiver's telephone number (202) 659-4140, and ask for Jerry A. Isenberg or