UNITED STATES SECURITIES AND EXCHANGE COMMISSION

LITIGATION RELEASE No. 18351 / September 15,2003

, Civil Action No. 3 CV03-1614 (M.D. Pa.)

SEC SUES JOHN F. TURANT, JR., RUSS R. LUCIANO AND OTHERS FOR RAISING $4.5
MILLION IN OFFERING FRAUD

   The Securities and Exchange Commission ("Commission") announced today
   that it filed a civil action in the United States District Court for
   the Middle District of Pennsylvania against John F. Turant, Jr., of
   Wapwallopen, Pennsylvania, Russ R. Luciano, of Duryea, Pennsylvania
   and four entities operated by them, alleging an offering fraud in
   which the defendants raised approximately $4.5 million from more than
   100 investors.

   The Commission's complaint alleges that, from July 1999 until March
   2003, Turant and Luciano solicited funds by falsely representing to
   prospective investors that they would invest their money in one of two
   purported hedge funds, defendants JTI Group Fund, LP and Evergreen
   Investment Group, LP, for the purpose of day-trading securities,
   promising annual returns from 20% to 120%. The complaint alleges that,
   in fact, only a small portion of the money raised was ever invested,
   that the funds were never profitable, and that much of the money that
   was invested was lost. Turant and Luciano then concealed their scheme
   and lulled investors by providing fictitious monthly account
   statements and other false documents to investors.

   The complaint further alleges that, of the $4.5 million raised, Turant
   and Luciano used more than $3.8 million for unauthorized purposes,
   including paying approximately $2.2 million to existing investors, in
   the nature of a Ponzi scheme. In addition, Turant and Luciano
   misappropriated almost $1 million for their personal use.

   Named as defendants in the Commission's action are Turant, Luciano,
   JTI Group Fund, LP, Evergreen Investment Group, LP and the general
   partners of the funds, JTI Investment Group, Inc. and New Resource
   Investment Group, Inc.

   The complaint charges all of the defendants with violating Sections
   5(a), 5(c) and 17(a) of the Securities Act of 1933, Section 10(b) of
   the Securities Exchange Act of 1934 and Rule 10b-5 thereunder; and
   defendants JTI Group Fund, LP and Evergreen Investment Group, LP with
   violating Section 7(a) of the Investment Company Act of 1940. The
   complaint seeks permanent injunctions, disgorgement, prejudgment
   interest and the imposition of civil penalties.