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

Perennial Fund I LP, et al.

On November 20, 2000, the SEC obtained an order freezing the assets and other emergency relief against the Perennial Fund, its principals, and other relief defendants. The SEC alleged that the defendants misappropriated approximately $5 million that had been invested in the Perennial Fund. Instead of investing the money in safe instruments as promised, the defendants used about $500,000 to pay investors in a Ponzi scheme and one of the principals, Jerry Eaton, misappropriated the remaining amount. For more information about the SEC's action, you can read Litigation Release No. 16821 (December 11, 2000).

The court appointed Martin H. Dodd as Receiver to collect and distribute assets. Mr. Dodd has made two distributions of almost $500,000 to eligible claimants, representing about an 11% return of principal.

If you have questions, you can contact the Receiver at:

Martin H. Dodd, Esq.
Dodd, Futterman & Dupree LLP,
351California Street, Suite 1100
San Francisco, CA 94104
Phone: (415) 399-3840
Fax: (415) 399-3838


Modified: 03/07/2003