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.

The Securities & Exchange Commission filed a complaint against this real estate investment partnership that raised over $60 million. Mr. Hays serves as the Receiver and Hays firm serves as the Financial Consultants to the Receiver.

INVESTOR UPDATE ON SEPTEMBER 8, 2011

This case is now closed. All activities of the Receiver have been completed per the Order closing the Receivership. Please refer to the following documents posted under Case and Claims Documents for further detail: Order Reopening Case for Final Administration, Authorizing the Procedures set forth in the Receiver’s Final Report, and Closing the Receivership and Notice of Conclusion of Receivership.

The Securities and Exchange Commission filed a complaint in the United States District Court for the District of South Carolina in April 2007 against Albert E. Parish, Jr. and Parish Economics LLC claiming they had been fraudulently operating five investment funds.

The case involved a fraudulent securities offering with $523 million allegedly invested in various hedge funds and investment pools. Mr. Hays was appointed as the Receiver and Hays serves as Accountants and Financial Consultants to the Receiver. We liquidated assets including real estate, cars, watches, pens, artwork, real estate investments, and life insurance policies and are recovering significant funds from third parties. The case has received extensive local and national media coverage. The TV show American Greed aired a story on the case in 2009.

May 1, 2013 Investor Update

Final distribution checks were mailed in April 2013 and the case has been closed effective September 13, 2013.

Hays was appointed as Receiver in the Superior Court of Gwinnett County, Georgia in June 2008 by the Honorable Mark A. Lewis. During the case, closed the corporate office, prepared tax returns and various reporting, recovered and settled case assets and are administering the estate.

The Receiver anticipates closing the case in 2010.

Mr. Hays was appointed Receiver on September 21, 2004 for four companies that raised over $60 million from the sale of investments in mobile billboards and $18 million from the sale of payphone investments, primarily from elderly investors. Hays serves as Accountants & Financial Consultants to the Receiver.

The Receiver made an initial 5% distribution to all allowed claims in February 2009.

The Court approved the motion to close the case and the Receiver issued final distribution checks on or about April 28, 2010.  The case was officially closed in June 2010.

Hays was appointed Receiver in the Superior Court of Fulton County, Georgia by the Honorable Craig L. Schwall in December 2007. The Firm is currently marketing approximately 55 condominiums units in Dunwoody, Georgia and managing the unsold units as apartments. Members of the firm previously served on the Homeowners Association. Since appointment, $9.5 million in condos have been sold at the project.

The CFTC brought a $25 million Hedge Fund fraud case against Lake Dow Capital and Mr. Hays was appointed as Receiver in the United States District Court in the Northern District of Georgia. We prepared a funds tracing database, determined claims against the estate and investigated causes of action recovering significant funds from the primary broker. Funds were also traced, located and recovered from European accounts. We filed a Plan of Distribution and investors were paid approximately 80% of their investments. A major issue in the case was the segregation of IRA accounts and traditional investment accounts. The case was the subject of an article in Business Week in June 2006. A final distribution to investors was made in January 2009.