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

Terry L. Dowdell, et al.

On June 4, 2002, the SEC obtained a permanent injunction against Terry L. Dowdell and two entities he controlled in connection with a massive international ponzi scheme. The SEC alleged that Dowdell using various marketers raised more than $70 million in a fictitious trading program purportedly involving the offer and sale of "prime bank" securities. Dowdell admitted the trading program never existed. Dowdell also admitted he used investor funds to pay the promised returns and spent the rest on himself, his associates, family, and friends. On December 19, 2002, Dowdell pled guilty to related criminal charges.

The SEC has posted numerous litigation releases about this matter. You can find them by visiting the SEC's website and inserting "Dowdell" in our search engine at the top of the page.

On July 12, 2002, the Court appointed Roy M. Terry, Jr. and the law firm of DurretteBradshaw PLC as Receiver to collect assets for the benefit of investors. The Receiver has set up a website where investors can read information about the status of the Receivership.


Modified: 01/14/2003