LANDMARK LAWSUIT FILED AGAINST SEC TO PROTECT ALL WHISTLEBLOWERS

Permanent Injunctions and Monetary Relief Obtained for Ponzi Schemes Operated in Conjunction

SEC v. Timothy R. Heyman, Heyman International, Inc., Paul D. Carter and American Financial Business, LLC.

2006
$7.3 Million

Defendants raised nearly $12 million combined from approximately 250 investors from the offer and sale of unregistered securities they called “Depository Agreements” or “Depository Loan Agreements.” Proceeds from investors lured in by defendants Heyman and Carter were commingled and misappropriated for Ponzi payments and to pay Carter’s personal expenses.

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SEC Prosecutions

Permanent Injunctions and Monetary Relief Obtained for Ponzi Schemes Operated in Conjunction

SEC v. Timothy R. Heyman, Heyman International, Inc., Paul D. Carter and American Financial Business, LLC.

Key Docs

Case Materials