SEC v MARK GATCH and HENRY BENJAMIN SCHMIDT


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Keywords & Phrases

CaseNo: LR-17573, CourtCode: DIS, CourtName: DISTRICT COURT FOR THE SOUTHERN DISTRICT OF OHIO ISSUED AN ORDER, Defendant: Mark Gatch and Henry Benjamin Schmidt, Plaintiff: SEC, State: OH Ohio, UniqueCaseRef: SEC>LR-17573, Schmidt, Securities, Exchange Commission, Ohio, Investments, Mark Gatch, Henry Benjamin, District, Disgorgement, Co-founder, Failure, Monthly Disgorgement Payments, Disgorgement Judgement, Judge, Deposit, Registry, Resides, Petersburg, Florida, Unregistered Investment Adviser, Cincinnati Area, Ponzi Scheme, Investor Losses, Excess, Owner, Amelia, Civil Action, Prison Term, Connection , ContentID: 120253091

Case Documents

2002-06-18

SEC LITIGATION RELEASE
[ see first page and extracted highlights below ] ItemID: 128922

1 pages
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Total Documents: 1 document , 1 page. CAUTION. PLEASE NOTE THAT THIS IS A ONE PAGE CASE.

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1 . SEC LITIGATION RELEASE

EXTRACTED KEY WORDS

SECURITIES
EXCHANGE COMMISSION
OHIO
INVESTMENTS
MARK GATCH
HENRY BENJAMIN
DISTRICT
COURT
DISGORGEMENT
CO-FOUNDER
FAILURE
MONTHLY DISGORGEMENT PAYMENTS
DISGORGEMENT JUDGEMENT
JUDGE
DEPOSIT
REGISTRY
RESIDES
PETERSBURG
FLORIDA
UNREGISTERED INVESTMENT ADVISER
CINCINNATI AREA
PONZI SCHEME
INVESTOR LOSSES
EXCESS
OWNER
AMELIA
CIVIL ACTION
PRISON TERM
CONNECTION

U.S. SECURITIES AND EXCHANGE COMMISSION

LITIGATION RELEASE NO. 17573 / June 18, 2002

   SECURITIES AND EXCHANGE COMMISSION V. MARK GATCH AND HENRY BENJAMIN
   SCHMIDT, Case No. C-1-97-599 (SSB) (S.D. Ohio, W.D.)

   NEW YORK -- The Securities and Exchange Commission announced that on
   June 11, 2002, the Honorable Sandra S. Beckwith of the United States
   District Court for the Southern District of Ohio issued an order
   holding Henry Benjamin Schmidt in contempt of Court for failure to
   make monthly disgorgement payments of $2,333.00, resulting from a
   disgorgement judgement of $2.9 million. Under the terms of Judge
   Beckwith's order Schmidt is required to deposit $48,933.00 into the
   Court's Registry by July 11, 2002, or be immediately incarcerated.
   Schmidt, age 68, resides in St. Petersburg, Florida. Schmidt
   co-founded, owned, and operated Ben Mar Investments, Inc. ("Ben Mar"),
   an unregistered investment adviser in the Greater Cincinnati area. Ben
   Mar effectively operated as a Ponzi scheme from 1992 through March
   1995, resulting in investor losses in excess of $12 million. Mark
   Gatch, the co-founder and owner of Ben Mar, of Amelia, Ohio,
   previously settled the Commission's civil action against him, and was
   sentenced to a five-year prison term in connection with his operation
   of Ben Mar.

   For further information, see (June 25, 1997), (October 7, 1997) and
   (July 3, 2000).
     _________________________________________________________________

Modified 06/19/2002

SNIPPETS:

SECURITIES AND EXCHANGE COMMISSION V. MARK GATCH AND HENRY BENJAMIN

SCHMIDT,

NEW YORK -- The Securities and Exchange Commission announced that on June 11, 2002, the

Under the terms of Judge Beckwith's order Schmidt is required to deposit $48,933.00 into the

Schmidt, age 68, resides in St. Petersburg, Florida.

Schmidt co-founded, owned, and operated Ben Mar Investments, Inc., an unregistered investment

Ben Mar effectively operated as a Ponzi scheme from 1992 through March 1995, resulting in

Mark Gatch, the co-founder and owner of Ben Mar, of Amelia, Ohio, previously settled the


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