Web Hosting Headquarters Partnership
On December 28, 2000, the SEC obtained temporary restraining orders, asset freezes, and other emergency relief against Web Hosting Headquarters, its principals, and telemarketers in connection with the fraudulent sale of unregistered Web Hosting securities. The SEC alleged that the defendants raised approximately $5.5 million from more than 240 investors nationwide and illegally diverted 62% of the money raised. For more information about the SEC's action, you can read Litigation Release Nos. 16846 (Dec. 29, 2000), 17202 (Oct. 24, 2001), 17875 (Dec. 6, 2002), and 18101 (Apr. 23, 2003).
The Court appointed Christian R. Bartholomew as Receiver to operate the business of Web Hosting and to determine what funds were raised and how they were used. The Receiver has collected nearly $3 million and has distributed $2 million to defrauded investors. The Receiver plans to make a further distribution in the next few months.
If you have questions, you can contact the Receiver at:
Christian Bartholomew, Esq.