Learn Waterhouse, Inc. et al.

On November 1, 2004, the SEC obtained a preliminary injunction and asset freeze against Learn Waterhouse, Inc., Randall T. Treadwell, and others. The SEC alleged the defendants raised at least $24.5 million from 1,700 investors nationwide in connection with the offer and sale of fictitious “prime bank” instruments. The SEC also alleged the defendants actually operated a Ponzi scheme, returning $8.2 million or 46.9% of the money raised to investors and misappropriating at least $2.5 million for personal use. For more information about the SEC’s action, you can read Litigation Release Nos. 18932, 18959, 19059, and 19142.

The Court also appointed Tomas F. Lennon as Receiver. You can find more information on the Receivers website. If you have questions, you can contact the Receiver at:

Thomas F. Lennon, Inc.
7777 Alvarado Road, Suite 712
La Mesa, CA 91941
Phone: (619) 668-6680
Fax: (619) 465-9288

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