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SEC v LENNOX INVESTMENT GROUP, LTD., ACTIVE INTERNATIONAL, et al Click to find out why . . .



Keywords & Phrases
CaseNo: LR-15789, CourtCode: DIS, CourtName: ON JUNE 22, 1998, THE UNITED STATES DISTRICT COURT FOR THE, Defendant: Lennox Investment Group, Ltd., Active International, Inc., Randall W. Law, James F. Wardell, Monica M. Iles, Frank L. Peitz, and Daniel B. Benson, Plaintiff: SEC, State: ND North Dakota, UniqueCaseRef: SEC>LR-15789, Investors, Lennox, Wardell, Iles, Benson, Securities, Peitz, Commission, Funds, United States, Exchange Commission, Randall, Request, Relief Defendants, Complaint, Trading Program, Act, Frank, Daniel, District, Assets, Account, According, Enjoining Lennox, Disgorgement, Prejudgment, Future Violations , ContentID: 120242279

Case Documents
1 1998-06-24 SEC LITIGATION RELEASE
[ see first page and extracted highlights below  ] ItemID: 105372
2 pages
TXT
Total Documents: 1 document , 2 pages
Price: $ 19.95


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1 . SEC LITIGATION RELEASE

EXTRACTED KEY WORDS
LENNOX
LAW
WARDELL
ILES
BENSON
DEFENDANTS
SECURITIES
PEITZ
COMMISSION
FUNDS
UNITED STATES
EXCHANGE COMMISSION
RANDALL
COURT
REQUEST
RELIEF DEFENDANTS
COMPLAINT
TRADING PROGRAM
ACT
FRANK
DANIEL
DISTRICT
ASSETS
ACCOUNT
ACCORDING
ENJOINING LENNOX
DISGORGEMENT
PREJUDGMENT
FUTURE VIOLATIONS




                   UNITED STATES SECURITIES AND EXCHANGE COMMISSION

     LITIGATION RELEASE NO.  15789 / June 24, 1998

     SECURITIES AND EXCHANGE COMMISSION v. LENNOX INVESTMENT GROUP, LTD.,
ACTIVE
     INTERNATIONAL, INC., RANDALL W. LAW, JAMES F. WARDELL, MONICA M. ILES,
     FRANK L. PEITZ, AND DANIEL B. BENSON, 4:98CV536-Y, USDC, ND/TX  (Fort
Worth
     Division)

          On June 22, 1998,  the United States District Court for the
Northern
     District of  Texas granted the Commission s request for an order
freezing
     the assets of Lennox Investment Group, Ltd. ( Lennox ), Active
     International, Inc. ( Active ), Randall W. Randall W. Law ( Law ),
James F.
     Wardell ( Wardell ), Monica M. Iles ( Iles ), Frank L. Peitz ( Peitz ),
and
     Daniel B. Benson ( Benson ), and relief defendants P.B.F. Capital
Corp,
     Inc., Benson Financial, Inc., Robert Paladino, People s Residential
     Mortgage Corp., Benny Griffis, and L. E. Consultant Company.
Additionally,
     the Court ordered all defendants to account for investor monies and to
     repatriate any funds not subject to the jurisdiction of the Court, and
     ordered the appointment of a receiver to take control of the assets of
the
     defendants for the benefit of investors.

          According to the Commission s complaint,  Lennox, Active, Law,
     Wardell, Iles, Peitz and Benson raised approximately $11.1 million
from
     more than 50 investors in at least 10 states through the fraudulent
offer
     and sale of unregistered  prime bank  securities. Investors were told
that
     their funds would be placed in an escrow account, with the investment
     principal guaranteed, and that their funds would be invested in a
trading
     program where  investors could expect a yield of 122.5% per week for
40
     weeks during the 54 week term of the program. In fact, according to
SNIPPETS:
  • UNITED STATES SECURITIES AND EXCHANGE COMMISSION
  • SECURITIES AND EXCHANGE COMMISSION v. LENNOX INVESTMENT GROUP, LTD.,
  • ACTIVE INTERNATIONAL, INC., RANDALL W. LAW, JAMES F. WARDELL, MONICA M. ILES,
  • FRANK L. PEITZ, AND DANIEL B. BENSON, 4:98CV536-Y, USDC, ND/TX (Fort Worth
  • On June 22, 1998, the United States District Court for the Northern
  • Additionally, the Court ordered all defendants to account for investor monies and to
  • According to the Commission s complaint, Lennox, Active, Law, Wardell, Iles, Peitz and Benson
  • In fact, according to the complaint, the trading program did not exist and these defendants,
  • The complaint further requests an order permanently enjoining Lennox, Active, Law, Wardell,
  • The Commission s request for a preliminary injunction enjoining Lennox, Active, Law, Wardell,
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