Hurst Capital Corporation

On February 18, 1998, the SEC obtained temporary restraining orders against Hurst Capital Corp. and its principals, and asset freezes against the principals and a number of relief defendants. The defendants raised $52 million from more than 1,500 investors nationwide purportedly to buy accounts receivables. For more information about the SEC's action, you can read Litigation Release Nos. 15652 (February 24, 1998), 15656 (March 3, 1998), and 16564 (May 24, 2000).

The Court appointed Kenneth A. Welt as Receiver who made six distributions to investors, totaling approximately $25 million or about a 72 percent return.

If you have questions, you can contact the receiver at:

Kenneth A. Welt, P.A.
3790 North 28th Terrace
Hollywood, Florida 33020
Phone: (954) 929-8000
Fax: (954) 929-8200
Email: kaw@kawpa.com

http://www.sec.gov/divisions/enforce/claims/archive/hurst.htm