SEC v TRUSTCAP FINANCIAL GROUP, INC., et al


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Keywords & Phrases

CaseNo: LR-15436, CourtName: INC. THE COURT APPOINTED A SPECIAL AGENT ON MARCH 14, 1997 TO, AMONG, Defendant: Trustcap Financial Group, Inc., Matrix Investment Advisors, Inc., Security Financial, Inc., and Matrix Capital Management, Inc.;, Plaintiff: SEC, State: WA Washington, UniqueCaseRef: SEC>LR-15436, Investment, Distribution, Securities, Funds, Sfi, Special Agent, Exchange Commission, Plan, Interim Distribution, Trustcap, Investment Advisors, Capital Management, Approving, Advisers, Matter, Violations, Account, Records Provisions, Holding Company, Clients, Prior Withdrawals, Money, Properly Accounted-for, Intends, Potential Violations, Federal Securities Laws, Connection , ContentID: 120242624

Case Documents

1997-08-07

SEC LITIGATION RELEASE
[ see first page and extracted highlights below ] ItemID: 105718

2 pages
TXT

Total Documents: 1 document , 2 pages

Price: $ 19.95

IVESLCD01 KGI0001

1 . SEC LITIGATION RELEASE

EXTRACTED KEY WORDS

DISTRIBUTION
SECURITIES
FUNDS
SFI
SPECIAL AGENT
EXCHANGE COMMISSION
PLAN
INTERIM DISTRIBUTION
TRUSTCAP
INVESTMENT ADVISORS
CAPITAL MANAGEMENT
LITIGATION
APPROVING
ADVISERS
MATTER
VIOLATIONS
COURT
ACCOUNT
RECORDS PROVISIONS
HOLDING COMPANY
CLIENTS
PRIOR WITHDRAWALS
MONEY
PROPERLY ACCOUNTED-FOR
INTENDS
POTENTIAL VIOLATIONS
FEDERAL SECURITIES LAWS
DEFENDANTS
CONNECTION






                          SECURITIES AND EXCHANGE COMMISSION
                                   Washington, D.C.

     SECURITIES AND EXCHANGE COMMISSION  v. TRUSTCAP FINANCIAL GROUP,
INC.,
     MATRIX INVESTMENT ADVISORS, INC., SECURITY FINANCIAL, INC., AND
MATRIX
     CAPITAL MANAGEMENT, INC., Civil Action No. 1:97CV00513 (D.D.C.).

     Litigation Release No. 15436 / August 7, 1997

          The Securities and Exchange Commission today announced that, on
August
     6, 1997, the Honorable Thomas A. Flannery, Senior United States
District
     Judge, issued an order approving an interim distribution of funds to
     investors who had invested funds with two investment advisers:
Matrix
     Investment Advisors, Inc. (Matrix) and Security Financial, Inc. (SFI).
The
     Commission filed its complaint in this matter on March 13, 1997,
alleging
     violations of the books and records provisions of the Investment
Advisers
     Act of 1940, against Matrix; SFI; their holding company, Trustcap
Financial
     Group, Inc.; and its recordkeeping subsidiary, Matrix Capital
Management,
     Inc.  The Court appointed a Special Agent on March 14, 1997 to, among
other
     things, establish and implement a plan to return investor funds to
Matrix's
     and SFI's clients.

          The Special Agent has identified approximately $11.2 million in
funds
     available for distribution to Matrix and SFI investors.  The Court's
order
     and the Special Agent's interim distribution plan call for the
Special
     Agent to distribute a total of approximately $5 million to Matrix and
SFI
     investors at this time.  With this interim distribution, and taking

SNIPPETS:

SECURITIES AND EXCHANGE COMMISSION v. TRUSTCAP FINANCIAL GROUP,

issued an order approving an interim distribution of funds to investors who had invested

Investment Advisors, Inc. and Security Financial, Inc. (SFI).

Commission filed its complaint in this matter on March 13, 1997, alleging violations of the

Act of 1940, against Matrix; SFI; their holding company, Trustcap Financial

and its recordkeeping subsidiary, Matrix Capital Management, Inc.

The Court appointed a Special Agent on March 14, 1997 to, among other things, establish and

With this interim distribution, and taking into account any prior withdrawals, each investor

Once the Special Agent is reasonably assured that all investor funds have been properly

The Commission's investigation of other potential violations of the federal securities laws,