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

David Tanner d/b/a/ Capital Enhancement Club, et al.

On May 4, 2005, the SEC obtained a temporarily restraining order and asset freeze against David Tanner, individually and doing business as Capital Enhancement Club, Rocky D. Spencer, Marroc Corp., and Richard P. Kringen. The SEC alleged the defendants engaged in a fraudulent Internet-based investment scheme in which they illegally offered and sold interests in a non-existent international trading program. The SEC further alleged that the defendants fraudulently raised at least $15 million from investors, and that Spencer misappropriated more than $1.5 million for personal expenses as well as to make Ponzi payments.

The Court also froze the assets of a number of relief defendants that the SEC alleged received investor funds, and ordered them to repatriate all funds and assets they may have obtained from the alleged fraudulent scheme. The Court appointed Larry Cook as Receiver to take control and possession of the assets and monies of the defendants and relief defendants. For more information about the SEC's action, you can read Litigation Release Nos. 19219 (May 4, 2005) and 19325 (Aug. 4, 2005).

To learn more about the Receivership, you can visit the Receiver's website.


Modified: 10/17/2005