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U.S. Securities and Exchange Commission

Cash Link Systems, Inc. et al.

On July 20, 2004, the SEC obtained a temporary restraining order and asset freeze against Cash Link Systems and its President, Alan Levine in connection with an unregistered and fraudulent offering of "cashless" automated teller machines.  The SEC alleged the defendants raised more than $10 million dollars from at least 680 investors by promising them "conservative" returns of 18% per month.  The SEC also alleged the defendants failed to deliver ATMs to some investors and did not disclose that the few machines in operation generated very little return for investors.  For more information about the SEC's action, you can read Litigation Release No. 18791 (July 23, 2004).

The Court appointed Michael J. Quilling as Receiver.  For more information, please visit the Receiver's website.


Modified: 08/16/2004