Archie Paul Reynolds a/k/a Dr. A. Paul Reynolds and Success Trust and Holding LLC

On August 24, 2006, the SEC obtained a preliminary injunction, asset freeze and other relief against Archie Paul Reynolds (a/k/a Dr. A. Paul Reynolds) and Success Trust and Holding, LLC in connection with a prime bank-like scheme.  According to the SEC’s complaint, the defendants raised millions of dollars from at least 500 investors by fraudulently offering and selling interests in three investment programs:  a Real Estate Program, a Best Efforts 480% Annual Return Program and a Private Party Loan Agreement.  The largest program, the Real Estate Program, in which more than $2 million was invested, projected exorbitant returns from investments in vaguely described "banking processes" that did not exist.  The complaint also alleged that Reynolds and Success Trust lured investors with offering materials falsely claiming that each Program paid projected rates of return ranging from 10% to 480% per year.

For more information about the SEC’s action, you can read Litigation Release Nos. 19793 (Aug. 3, 2006) and 20048 (Mar. 19, 2007).

On January 3, 2007, the Court appointed Pat Huddleston II as Receiver.  You can find the latest information about the Receivership by visiting the Receiver’s website.

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