Receivership of Aubrey Lee Price
PFG, LLC;   PFGBI, LLC;
Montgomery Asset Management, LLC f/k/a PFG Asset Management, LLC (a Florida LLC); and
Montgomery Asset Management, LLC f/k/a PFG Asset Management, LLC (a Georgia LLC)

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TRIAL DATE IN ACTION OF USA V. AUBREY LEE PRICE:
JUNE 23, 2014, 9:00am

LOCATION:
Federal Courthouse
52 North Main Street
Statesboro, GA 30458
RECEIVER'S MOTION FOR APPROVAL OF CLAIMS PROCEDURE AND DISTRIBUTION PLAN - 12/6/13   [click here]
Exhibit A
Exhibit B
Exhibit C

ORDER APPOINTING RECEIVER - 8/10/12   [click here]

RECEIVER'S 1ST STATUS REPORT 10/25/12
[click here]


Exhibit A
Exhibit B
Exhibit C
Exhibit D
Exhibit E

RECEIVER'S 2ND STATUS REPORT
1/30/13

[click here]


Exhibit A
Exhibit B
Exhibit C
Exhibit D
Exhibit E

RECEIVER'S 3RD STATUS REPORT
4/30/13

[click here]


Exhibit A
Exhibit B
Exhibit C
Exhibit D
Exhibit E

RECEIVER'S 4TH STATUS REPORT
7/30/13

[click here]


Exhibit A
Exhibit B
Exhibit C
Exhibit D
Exhibit E

RECEIVER'S 5TH STATUS REPORT
10/30/13

[click here]


Exhibit A
Exhibit B
Exhibit C
Exhibit D
Exhibit E

RECEIVER'S 6TH STATUS REPORT
2/10/14

[click here]


Exhibit A
Exhibit B
Exhibit C
Exhibit D

RECEIVER'S 7TH STATUS REPORT
4/30/14

[click here]


Exhibit A
Exhibit B
Exhibit C
 

IN THE UNITED STATES DISTRICT COURT FOR THE
NORTHERN DISTRICT OF GEORGIA
ATLANTA DIVISION

CIVIL ACTION NO.: 1:12-CV-2296

SECURITIES AND EXCHANGE COMMISSION,

Plaintiff,

vs.

AUBREY LEE PRICE; PFG, LLC; PFGBI, LLC; MONTGOMERY ASSET MANAGEMENT, LLC f/k/a PFG ASSET MANAGEMENT, LLC, (Florida limited liability company); and MONTGOMERY ASSET MANAGEMENT, LLC f/k/a PFG ASSET MANAGEMENT, LLC, (Georgia limited liability company)

Defendants.

     On July 2, 2012 the U.S. Securities and Exchange Commission(the “S.E.C.”) filed a Complaint for Injunctive Relief in the U.S. District Court for the Northern District of Georgia (the “U.S. District Court”) against Aubrey Lee Price, and various entities which he controlled, seeking recovery of investors’ funds arising from an offering and investment advisory fraud Mr. Price perpetrated against approximately 115 investors.  In its Complaint, the S.E.C. alleges that Mr. Price solicited investments of approximately $40 million, offering “positive returns with low volatility,” by investing in a variety of opportunities.  While Mr. Price placed some investor funds in trading account as promised, that account suffered massive trading losses and Mr. Price frequently wired large amounts of investor funds to other accounts that were not associated with or for the benefit of investors.  At the same time, Mr. Price provided investors with false account statements indicating fictitious investment returns. TheU.S. District Court for the Southern District of Georgia indicted Mr. Price, and the United States has filed a criminal complaint against Mr. Price in the U.S. District Court for the Eastern District of New York, base on charges related to this fraud.  Currently, Mr. Price is a fugitive of the law.

      Along with its Complaint, the S.E.C. filed an Emergency Application for Temporary Restraining Order and Other Equitable Relief.  On July 1, 2012, the U.S. District Court entered an Order to Show Cause, Temporary Restraining Order, Order Freezing Assets, Order Requiring an Accounting, Order Prohibiting Destruction of Documents and Order Expediting Discovery (the “TRO”).  When neither Mr. Price nor any representative of any of the entities he controlled appeared in Court as ordered, complied with Court’s mandates, or otherwise responded to any of the Court filings, the U.S. District Court, on July 13, 2012 entered an Order Granting Preliminary Injunctions and Ordering Other Relief as to Defendants.  On July 26, 2012, the S.E.C. filed an Expedited Motion Seeking Appointment of a Receiver, to, among other things, marshal and preserve all of the assets of Mr. Price and the entities he controlled for the benefit of investors he defrauded.  On August 10, 2012, the U.S. District Court entered an Order Appointing Receiver, in which the Court appointed Melanie E. Damian, of Damian & Valori LLP, asReceiver over the Estates of Mr. Price and the other Defendant entities that he controlled.

     As Receiver, Ms. Damian will make every effort and take anyaction necessary and appropriate to marshal, recover, and preserve the assets of the Estates of Mr. Price and the various Defendant entities he controlled for the benefit of the defrauded investors.  Further on in the Receivership, the Receiver, upon Court approval, will liquidate the assets of the Estates and formulate a process through which investors can submit claims and receive distributions based on the amounts they lost.  In the course of performing her duties, the Receiver will use this website to keep investors informed of the status of the Receivership by updating it with information, important dates and deadlines, and Court filings.  We encourage you to visit this website regularly to keep yourself informed of the status and important information and deadlines related to the Receivership.  We also invite you to contact us if you have any questions regarding the Receivership or any information you believe may assist the Receiver in her efforts.

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