Claude Lefebvre et al.

SEC v. Claude Lefebvre et al., (United States District Court for the Northern District of California, C.A. No. C-02-3704-SBA)

The Commission announced that, on September 30, 2002, it filed civil contempt charges against Claude Lefebvre and RMO Assets Management SA, alleging that they violated a federal court order issued in a civil fraud case filed by the Commission. In its complaint, filed on July 31, 2002, the Commission alleged that Lefebvre, a purported bond trader, RMO Assets Management, and others participated in a fraudulent scheme that raised at least $40 million from investors in July 2002. The United States District Court for the Northern District of California issued a temporary restraining order and asset freezes against Lefebvre, RMO Assets Management, and others on August 1, 2002. In its contempt applications, the Commission alleges that Lefebvre and RMO Assets Management failed to comply with the court's order requiring them to identify, among other things, their financial institution accounts and all investors from whom they received funds.

On August 30, 2002, Lefebvre was arrested and criminal fraud charges were filed against him by the U.S. Attorney's Office in Colorado in connection with his role in this matter. On September 10, 2002, a U.S. magistrate ordered Lefebvre held without bail and, on September 26, 2002, Lefebvre was indicted by the Colorado U.S. Attorney's Office in connection with the criminal fraud charges. For further information, please see Litigation Release Numbers 17652 (August 2, 2002) and 17729 (September 17, 2002).