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I just received this update from CEP about their informal SEC investigation:
Hi, Everyone!
We have not heard much back at this point regarding the investigation, but I did call our attorney earlier today to see whether he had an idea as to how much longer this process might take. He thinks that it may be at least a few more weeks. We are still working hard behind the scenes to do everything we can. We, too, are part of the waiting game that all of you are a part of, and I promise we do not enjoy it, either.Know that we are thinking about each of you as we do our best to work all of this out. We will update you as soon as we hear anything else. Take care and God Bless until next time!
Trevor
Just in case you missed the original announcement, here it is:
05/31/2007 9:02:07 pm
Hello, Everyone!
The last few weeks have been challenging here at CEP, as we were advised to keep certain information from the public. As most of you are aware, this is against our usual character, as we constantly strive to be quite transparent with our members. We have finally been given permission to explain what is happening here at CEP. We had been given some mis-information regarding the proper registration of ColonEndParenthesis as an investment company several months ago. This, followed by the large growth we had in the last few months, triggered an informal investigation by the United States Securities and Exchange Commission. We have been working with them and have been providing all information requested so that we can get through this ordeal as quickly as possible, but our attorney has told us that it will be at least several weeks before we have any answers. We recognize that several weeks is a long time, and we apologize for the inconvenience. We do not know what the end result will be for ColonEndParenthesis, though we are actively seeking to be properly registered and set up with the SEC so that we can continue to provide our services to members who live in the United States. We will likely have to restructure much of the way the program works if it is to continue to provide services within the United States. We have been advised by our attorney to avoid making any transactions in or out until a decision has been made, and this includes pending payouts and compounds. Thus, the only activity that can happen within CEP at this time is error fixing. We realize that this may come as a surprise to many of you just as it did us when we received the first mailed notification that ColonEndParenthesis was under an informal investigation by the SEC. Please be assured that we are continually thinking of ways to ensure that everyone is protected here, though it is unlikely that we will be allowed to implement any of those ideas until decisions have been made. We will do everything we can to protect our members, as we have always done in the past. The protection and safety of all of our members has always been our top priority, and that will not change during this time. CEP was put together to help people and to keep people safe in an industry where many get hurt. We have accomplished this goal for longer than any other business in this industry, and we will continue to do so in the future. We have been notified that some members may receive phone calls from the SEC asking questions. It is totally your choice as to whether or not you want to answer their questions, but we would encourage you to truthfully answer any questions you are able to answer as it would likely aid the SEC in their investigation of ColonEndParenthesis. We know that we have not hurt any of our members throughout the last year and a half, and we would appreciate it if our members would cooperate with the SEC so that they may also know how well we have treated all of our members. We will continue to keep you informed as we are able to do so. Thank you very much for your continued support and prayers. We look forward to the resolution of this in the future. Take care until next time, thanks again so much for your patience! Trevor
Are we seeing a new excuse for ending programs or is the SEC really getting busy with investigating HYIPs? There are posts in some forums from those that say they’ve been contacted by the SEC concerning CEP, so the investigation may be real. It just seems that “SEC investigation” is popping up an awful lot lately. Personally, I’ve no idea whether it’s a new excuse, the SEC stepping up investigations, or a bit of both.
As far as I know the Coastin sites, CEPTrust and the other sites using CEPTrust are still operational. It is just CEP under investigation. I’m not in any of them, so I’m not sure. However, it’s highly probably that the SEC investigation will spill over to these sites as well. It’s time to bail, IMHO.
JMO,
Sharon
Popularity: 4% [?]
You know the weird thing is that over at ASA it is listed as paying….am I missing something here? Is CEP actually paying?
No, CEP is not paying.. and the SEC thing is real, not an excuse.
The problem is in trying to comply with the SEC. That was their mistake. being in the US is death to programs - especially when the SEC only moves in when there is alot of money invested after being in business for a long time — get my drift? Why didnt they say “your papers aren’t in order” from the beginning when there wasn’t so much money involved? Cuz it wouldnt be such a haul when they come a knockin’.
Sophie you are incorrect. CEPCoast and Coastin’ 88 (which Dolphin is actually referring to) are paying DAILY. I’m in both (kind of helps if you are actually in the program you are talking about) and I surf and get paid everyday, within minutes to my CEPTrust account. Every few days or so, I withdraw to my bank account without fail. What is not paying is CEP the HYIP, which is not listed on ASA as paying, and is actually not listed at all. CEP (ColonEndParenthesis), is under an informal investigation because it is an “investment” company. CEPCoast and Coastin’ 88 are advertisement companies and do not fall under the SEC’s jurisdiction.
Oops, I thought that was Dolphin at the top. Sorry Leo.
I’m in colonendparenthesis, coastin88, and cepcoast.
now only colonendparenthesis that have delay in payment.
The title is “CEP’s SEC investigation continues..” Im only referring to CEP which has not paid for over a month.
Not the other sites.
sounds like any other agency they notify about a month later and with late charges that you didnt knew about
The coastin sites ARE registered in Belize and are NOT securities so the S.E.C. has NO jurisdiction over them. The S.E.C.’s jurisdiction is within the USA or towards companies which sell securities to US residents. Since the Coastin sites are NOT in the USA and are in Belize and even more so, do NOT sell securities, they are safe from the wrath of the S.E.C.
To prove the point even further, what does the S.E.C. stand for?
Securities and Exchange Commission.
They do investigations on businesses that sell Securities. They would not even be interested in the coastin sites because they have no need to be.
#1 they would have to be in the USA,
#2 they would have to sell securities,
#3 they would have to be Ponzi’s.
None of which applies so the S.E.C. wouldn’t WANT to get involved as it would be a waste of their time since it has nothing to do with them. They are a business as well and to get wrapped up in businesses that do not apply to them, would simply serve them no purpose.
I’ve been in CEP, C88 and CEPC since the start, and have made back my money 100 fold…And continue to make money as we speak…
There is no Daily Profit share site like theirs, and nobody is as honest as they are…
What about DSM members,they are thirsty for over a month with no payout and have no idea when cep pays as cep’s ass is on the line at the moment.I think DSM members better forget about their pending payouts.lol.
Ummm… DSM members have not been paid in full…but they all have got their initial money back…or very very very close to it and 4newbies has been paid in full.
Once the SEC appoints a receiver, then you know it’s over.
So where the hell did our money go to the SEC task farce?