Global Money Management, L.P., LF Global Investments, LLC, and Marvin Friedman

On March 11, 2004, the SEC filed an emergency action to halt an alleged ongoing multi-million dollar securities fraud, naming San Diego-based Global Money Management, L.P., an unregistered private hedge fund, LF Global Investments, LLC, which operated GMM, and Marvin I. Friedman, of La Jolla, California, who the SEC alleges to have controlled both entities. The SEC's complaint alleges the defendants grossly overstated the assets of GMM to investors. For more information about the SEC's action, you can read Litigation Release Nos. 18623 (Mar. 12, 2004) and 18666 (Apr. 12, 2004).

The Court appointed a Charles LaBella as Receiver over GMM and LF Global. The Receiver has filed several reports with the Court and issued updates to investors. You can obtain further information by visiting the Receiver's website or calling the Receiver in California at (619) 696-9200.

http://www.sec.gov/divisions/enforce/claims/globalmoney.htm