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SEC LITIGATION RELEASE
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EXTRACTED KEY WORDS
INVESTORS SECURITIES TIGC COMMISSION COMPLAINT UNITED STATES EXCHANGE COMMISSION BANK ACCOUNTS GEOFFREY DISTRICT RELIEF ASSETS ALLEGES ACT SPRINGER BONDAGE BREAKER FREEZE DEFENDANTS OFFERING MATERIALS FUNDS INSTRUMENTS MONEY TRUST FUTURES HOLDING SUSAN JGS CONTROLS WIFE PAID |
UNITED STATES SECURITIES EXCHANGE COMMISSION
Litigation Release No. 15462 / August 27, 1997
U.S. Securities and Exchange Commission v. The Infinity Group
Company,
Geoffrey P. Benson and Geoffrey J. O'Connor, et. al.
United States District Court for the Eastern District of
Pennsylvania,
Civil Action No. 97-CV-5458)
On August 27, 1997, the U.S. Securities and Exchange Commission
("Commission") filed an emergency action in United States District
Court
for the Eastern District of Pennsylvania seeking a temporary
restraining
order ("TRO"), preliminary and permanent injunctions, and other
expedited
relief against The Infinity Group Company ("TIGC"), Geoffrey P.
Benson
("Benson") and Geoffrey J. O'Connor ("O'Connor"). The action also
seeks a
freeze of assets against all of the defendants. The Honorable Anita
B.
Brody granted the TRO and the freeze of assets, and scheduled a
preliminary
injunction hearing for September 3, 1997.
The Commission's complaint alleges that, from at least August
1994
through the present, TIGC, Benson and O'Connor have engaged in a
fraudulent
scheme through which they have raised at least $5 million, and possibly
as
much as $9.7 million, from at least 4,200 public investors, including
at
least 58 investors residing in Philadelphia and the surrounding area.
The
Complaint alleges that the defendants induced investors to purchase
interests in TIGC's "Asset Enhancement Plan" by promising them rates
of
return ranging from 138 to 181 percent. These returns were portrayed
as
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