This Website has been established to foster efficient communications between investors of Safevest, LLC (the “Company”) and Thomas Seaman, who is serving as its receiver. Mr. Seaman was appointed on May 1, 2008.
This Website was last updated on August 30, 2011
AUGUST 30, 2011 UPDATE: The Receiver does not anticipate any distributions to the investor/victims as no significant funds have been recovered or are anticipated. Therefore, the Receiver has recommended closing the case and on August 18, 2011, filed with the Court his Second and Proposed Final Status Report of Receiver with Proof of Service.
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Previous Case History and Updates
The Court issued a Preliminary Injunction on May 14, 2008 and made the appointment of the Receiver permanent. The injunction can be found in the case documents.
Unfortunately, the Receiver has not recovered any significant cash or other assets. It appears from the Company’s banking records that a significant portion of the money taken from investors was paid as commissions to individuals who solicited investor/victim's payments to Safevest. In addition, as is characteristic of a Ponzi-scheme, a substantial amount of money was paid to back to investors as a return of principal or purported investment income.
The Receiver recently filed a report with the Court as to his initial findings. This report may be found in the
case documents.
The SEC's complaint and Orders appointing a receiver can be found in the Case Documents.
The Receiver will update this website with significant developments.
The Receiver requests investors to refrain from calling the Receiver on the telephone.
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