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

Association of Individual Ministries and Charles Groeschel

On July 9, 2001, the SEC obtained temporary restraining orders and asset freezes against the Association for Individual Ministries (AIM), Charles Groeschel, AIM's former pastor, and Sage Computer Services in connection with a religious pyramid scheme. The SEC alleged that the defendants defrauded over 2,000 investors of at least $1.5 million by promising huge returns in exchange for their donations. For more information about the SEC's action, you can read Litigation Release No. 15805 (July 10, 1998)

The Court appointed Steven M. Cohen as Receiver. He has collected about $180,000 in assets from the defendants, but does not expect to recover any more assets for investors. If you were an investor and have not previously sent information to the Receiver, you should furnish the Receiver with any information that relates to your investment, including the date(s) you made your investment, the amount(s) of each of your investments, and proof of your investment, such as copies of canceled checks. Please send this information to:

Steven M. Cohen, Esq.
Kronish, Lieb, Weiner & Hellman, LLP
1114 Avenue of the Americas
New York, NY 10036


Modified: 04/03/2001