On August 2, 2012, Hays was appointed Receiver of this resort community in Clayton, GA.

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 22392 / June 12, 2012

SEC v. Benjamin Daniel DeHaan and Lighthouse Financial Partners, LLC, Civil Action No. 1:12-cv-01996-TWT (U.S. District Court for the Northern District of Georgia)

Court Issues Preliminary Injunction against Atlanta Investment Advisor and His Company

On June 11, 2012, the Honorable Thomas W. Thrash of the United States District Court for the Northern District of Georgia issued an order of preliminary injunction against violations of Sections 206(1) and 206(2) of the Investment Advisers Act of 1940 in U.S. Securities and Exchange Commission’s case against Benjamin Daniel DeHaan and Lighthouse Financial Partners, LLC. The order also allows for expedited discovery, asset freezes, prevents the destruction or concealment of documents and requires an accounting. Lighthouse, an investment advisor located in Atlanta and registered with the State of Georgia, has been owned and operated by DeHaan since 2007.

The Commission filed its case against DeHaan and Lighthouse on Saturday, June 9, 2012. The Commission’s complaint alleged that from approximately January 2011 through early May 2012, DeHaan moved approximately $1.2 million in funds belonging to his clients from their accounts at a custodial broker-dealer into a bank account in Lighthouse’s name that he controlled, thus gaining custody and control of these client assets. DeHaan and Lighthouse told the clients that these funds would be used to open new accounts at another broker-dealer. Once in this account, at least some of these funds were moved to a personal account belong to DeHaan and to accounts used by Lighthouse for business expenses. At least $600,000 in client funds remains unaccounted for. DeHaan was also alleged to have provided false documents to the Commission’s staff and to an examiner for the State of Georgia.

DeHaan and Lighthouse consented to the entry of the order providing for a preliminary injunction and other relief without admitting or denying the allegations in the Commission’s complaint. The Commission may seek additional relief, such as a permanent injunction, disgorgement of any ill-gotten gains with prejudgment interest and civil penalties, at a later time.

For further information, see Litigation Release No. 22390 (June 11, 2012).

Initial distribution checks pursuant to the confirmed Plan of Distribution will be mailed on July 3, 2013. If you have an IRA account, the funds were sent to the IRA Custodian and you should contact First Trust Company of Onaga.

Founded in 1987, The Money Tree, Inc. (“The Money Tree” or the “Company”) operated 46 consumer finance branch offices in Georgia, Florida, Alabama and Louisiana.   Based in Bainbridge, Georgia, the Company originated and serviced direct consumer loans, consumer sales finance contracts and motor vehicle installment sales contracts.  The Money Tree also sold retail merchandise (principally furniture, appliances and electronics) at certain branch office locations and operated two used automobile dealerships in Georgia operated separately under the “Best Buy Auto” brand name.

On December 16, 2011, each of the Debtors listed below filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code (the “Bankruptcy Code”). The cases were assigned the case numbers listed below (collectively, the “Bankruptcy Cases”) and are jointly administered under case no. 11-12254. The Bankruptcy Cases are pending before the Honorable William R. Sawyer in the United States Bankruptcy Court for the Middle District of Alabama.

Please see Documents section for additional information and a current status report.

On October 23, 2012, the Trustee filed his Third Status Report. Click here to review.

Email the Trustee at ghays@haysconsulting.net.

S. Gregory Hays was appointed Ch. 7 Trustee of this fantasy sports company on November 29, 2011.  This case has been closed.

In April 2011, Scovill Fasteners Inc., a 209-year-old manufacturer of engineered closure products for the apparel and industrial markets, filed for Chapter 11 bankruptcy protection. On June 30, 2011, S. Gregory Hays was appointed Ch.11 Trustee of Scovill Fastners, Inc. At the time of filing, Global SFI Holdings LLC emerged as the stalking horse bidder for all the assets and operations of the company.  The stalking horse bidder prevailed at the Section 363 Sale and the sale closed in June 2011. All assets of the company were sold and the company continues to operate as a division of Global SFI Holdings.

August, 2013 – SJK Funds v. Eisner, files added here.

Docket #174 – June 15, 2012 – Receiver’s Motion for Approval of Supplemental Plan for Administration of Receiver Estate and Distribution of Proceeds

On February 2, 2011, in the Northern District Court of Georgia, Greg Hays was appointed Receiver for Stanley J. Kowalewski and SJK Investment Management, Inc.

Supplemental Plan

Proposed Order

Brief in Support of Motion to Approve Supplemental Plan

Hays was engaged to manage the collection of approximately $4 million in accounts receivable and to liquidate the assets of the estate. Hays will also assist the Trustee in any preference or other actions to recover assets for the Estate.

Mr. Hays was appointed Receiver on September 21, 2007 for this investment fraud case. This case involves the recovery of $10.9 million that was invested in various Prime Bank Schemes. To date, the Receiver Team has identified over a dozen entities and parties worldwide who were involved or implicated in the Prime Bank Scheme. We investigated assets, recovered funds and are preparing for a distribution to creditors.

INVESTOR UPDATE ON MARCH 7, 2011

On November 29, 2010, the Court entered an Order Authorizing the Procedure Set Forth in the Receiver’s Final Report and the Closing of the Receivership. Final distribution checks were mailed in early January 2011.  Following the final distribution and the other two distributions in this case, all investors and creditors will have received a total of 63.48% of their Allowed Claim. The Receiver does not anticipate making any further distributions to investors or creditors.

Hays Assignee Services, LLC, serves as the assignee for this former manufacturer of gaming and slot machines.  If you have any questions on the status of this case, please contact Colt Conner at 404-926-0058.

The Securities & Exchange Commission filed the above reference complaint in December 2005 in the United States District Court in Eastern District of Texas. Mr. Hays was appointed as Receiver by the Honorable Richard A. Schell. The receivership is for six individuals and six entities that sold over $400 million in investments in an offshore bank deposit program. The principal entered a guilty plea. The case generated significant press and TV coverage including stories in the Atlanta Journal Constitution, Sports Illustrated, and the Dallas Morning News.

INVESTOR UPDATE April 15, 2014

The Court entered an Order Terminating Receivership on April 10, 2014.  Please see the documents section for additional details.