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

SEC v. Internet Capital Holdings, Inc.

February 2001

On November 16, 2000, the SEC obtained emergency relief against Internet Capital Holdings, Inc. and Internet Capital Holdings II, Inc., two unregistered investment companies, and two of their officers. The SEC alleged the defendants raised approximately $1.3 million from about 130 investors through a fraudulent "high-tech" offering. For more information about the SEC's action, you can read Litigation Release No. 16803 (November 17, 2000).

The court appointed David R. Chase as receiver to collect and distribute assets. The receiver recently mailed to investors and creditors information about the receivership, which included a claims form. The receiver has asked that the form be completed and returned no later than March 15, 2001. The receiver has indicated he has collected minimal assets from the companies at this point, but continues to seek assets from all other defendants.

If you have questions, you can contact the receiver's counsel in writing at her mailing address or facsimile number:

Cheryl Potter, Esq.
201 Biscayne Blvd.
Suite 1450
Miami, FL 33131
Fax: (305) 371-6983