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Following up Sharon’s announcement yesterday, this is the official link to SEC’s website on CEP Holdings.
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 20191 / July 11, 2007
SEC v. CEP Holdings, Inc. D/B/A Colonendparenthesis.net, Trevor Reed, Clayton Kimbrell and Colon End Parenthesis Trust, LLC, Civil Action No. 5:07-CV-00256-BO (EDNC, July 9, 2007)
The Securities and Exchange Commission (Commission) announced today that it has filed a complaint seeking emergency relief in the United States District Court for the Eastern District of North Carolina against CEP Holdings, Inc. d/b/a www.colonendparenthesis.net (CEP), Colon End Parenthesis Trust, LLC (CEP Trust), and its owners and operators, Trevor Reed (Reed) and Clayton Kimbrell (Kimbrell). The Commission alleges that since approximately November 2005, Reed and Kimbrell, through CEP, have fraudulently sold approximately $12 million worth of securities in unregistered transactions to approximately 5,000 investors, promising returns of 2% per day.
The Commission alleges that Reed and Kimbrell solicited investors to purchase CEP memberships with a minimum investment of $20 through CEP’s Internet website. On the homepage of this site, CEP claimed that investors could make the “% of an auto-surf without surfing.” In order to invest in CEP, investors were required to open and fund an account at CEP Trust, which was also owned and controlled by Reed and Kimbrell. Reed, Kimbrell, and CEP falsely claimed to use the funds to invest in safe, “brick and mortar” type businesses, such as travel agencies and real estate. In fact, Reed and Kimbrell invested most of the money CEP raised in other high-risk, online schemes, including auto-surf programs. Reed and Kimbrell omitted to disclose to CEP investors that CEP had no record of its investments and that neither CEP nor CEP Trust have reliable financial records. Moreover, Reed and Kimbrell, through CEP, made numerous other misrepresentations and omissions of material facts concerning (1) the safety and rate of return of the investment; (2) the nature and merits of the investment; (3) CEP’s compliance with Commission regulations; and (4) the size and scope of CEP’s overall membership program.
The Complaint alleges that the defendants, Reed, Kimbrell, and CEP have violated Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder. The Complaint further alleges that CEP Trust aided and abetted violations of Section 10(b) of the Exchange Act and Rule 10b-5 thereunder.
The Court subsequently entered an order freezing the defendants’ assets, appointing a receiver for the defendants, imposing preliminary injunctions against the defendants for future violations of the antifraud provision of the federal securities laws, and providing other relief.
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Jude,
Sorry to be off topic but I sent you a message from your blog contact and also from my email addy but no answer so far on your behalf.
Did you receive it? If NOT, pls, email me.
Thnx!
Nope, how bout emailing me direct at jude@nobshyip.net ?
OK!… Done already! Pls, check your email! Thnx!
You should all rot in hell. These people are wonderful people who only tried to help those in need. They DID NOT scam these people. The only reason people stopped getting their money is because the hellbound SEC stepped in and told him he HAD to, because the government did not like people making so much money. Maybe you should talk to some of the people who invested and received almost $12 million themselves by investing. A person involved received $9 million from investing. Why would he give SO many people SO much money and just not take it all? Make sense? I didn’t think so. Trevor is a stand up guy with nothing to hide, which is why he hasn’t been. Maybe instead of being “too stupid” to waste your life bringing other people down you should try doing something that makes you useful and maybe even half as good as Trevor and Clayton.
HI Lindsay,
Have you heard the results of the SEC investigation or are you just attacking people at random? No one in this thread said one word against CEP or its owners. If the SEC shuts them down, then they were doing something illegal. I don’t think that whether or not they were scamming is as much an issue as whether or not they were legal.
Also, how much of those millions were actually physically paid out to either e-gold or out of CEPTrust to the member’s bank account? As long as the funds remained in CEP by compounding or were sitting in CEPTrust, then they weren’t really paid out. They were numbers on a screen. Only funds that physically moved out of the program/program owned payment processor can be counted as paid.
IF a program is a ponzi scam (and I’m not saying that CEP was or wasn’t), then the program will pay as long as the funds coming in are greater than the physical withdraws. Program admins love it when people compound, because these aren’t really payments. One ponzi scam admin told me that 80% of his member compounded everything every cycle. 80%!
JMO,
Sharon
Wow! Who rattled *her* cage?!
Some readers here are attacking without knowing what really happened so thnx Sharon for your fair comment, I hope that clarify the situation.
I have to say your message (I think) was stated in a kind manner so I will reply nicely to you.
However as far as Luc is concerned, I suggest you not comment until you KNOW if people know or not.
I admit I was very pissed when reading this post but I will try to respond calmly this time.
For everyone’s 411, I worked for CEP. Trevor is my brother. No, I was not “reaping rewards” because of his successful business either, so let’s not go down that road. His main priority was helping people in need, and thousands of people will attest to that.
And yes Sharon, the money I stated WAS paid out, not in the system. Also, the more important thing that people don’t know (because as Luc would say people are attacking without knowing what REALLY happened, not what the government says) is that in the past months of this investigation Trevor and Clayton stopped receiving pays for themselves so that they could pay the workers. Many people quit their jobs to go full time for CEP, my brother spent all his time concerning himself about them, not himself. Til this day he is more upset about the people who were “robbed” than the fact that he may be losing his business. Because of this he has been working nonstop (throughout his wedding last week and his honeymoon) to try and get loans and suck so that he can pay his members back FROM HIS OWN POCKET, the money that they lost in the program. He does not care about himself, or about losing his business, he cares about the people that may now be hurting financially.
He thought he had all the paper work he needed. He was sure that everything was legal and taken care of. As far as the results of the investigation, even the attorneys and lawyers say that SEC cannot prove that this operation was illegal, but unfortunately, due to the poor record keeping (boys will be boys) it is also hard for Trevor to prove that it’s not.
I’m sorry for being rude to anyone was offended, but I am deeply offended when people jump the gun and attack innocent, wonderful people, and this site has been attacking him from day one.
I hope you can all open your eyes a little and understand that the government can make everything sound exactly as they want to. It’s not always the whole truth.
Lindz
Proud and Standing Up
“…the government can make everything sound exactly as they want to. It’s not always the whole truth.”
This is the case with all governments. The US government has turned deceit, misdirection, theft, and corruption into high art forms. I tend to believe the *opposite* of what ever spews forth out of Washington.
Lindz, I’ve never kept up with the CEP saga having completely lost interest in these types of opportunities but I will say your story has the ring of truth to it.
I wish you and your brother the very best of luck.
OK! that’s fine now Lindz.
I fell a bit hurted about your 1st remark: “”You should all rot in hell…”
I didn’t join the program, I just came here to contact Jude (nothing to do with this program) and didn’t make any bad comment. Concerning Jude, his work is to keep us informed on the latest news, here he was just reporting the official SEC notice but didn’t say anything bad against the ppl who were running this program.
But I understand your feeling now after reading your last comment.
OK! Forget what I said (in my post above) and I hope an happy end about the final issue of this program.
Hi Lindsay,
Thank you very much for that explanation. It certainly helps and it explains why you are so upset! I feel for you, your brother, and every one else involved and I wish all of you the best of luck with the SEC and everything else.
I just want to add that NoBS HYIP Blog wasn’t always negative about CEP and its related sites. There were a couple of negative posts about CEPTrust prior to Trevor seeking legal advice about getting licensed, because we needed to warn people that it was an unlicensed money transmitter. However, the later posts were neutral or positive.
There were things that CEP did that were quite good, things that were not good, and most that were somewhere in between the two extremes. Being all over the range of the spectrum is not unusual for any business. What we try hard to do here is report all of the news and add our viewpoint, based on history and our own experiences, which makes this site mostly editorials.
So, if you search for CEP in the box in the upper right corner, you’ll see a variety of reports and comments that span the spectrum. I am sorry if the articles and comments that are at the negative end upset you. However, I wouldn’t change them. I do believe that Trevor and company endeavored to do the right thing, though. The majority of admins are out to only scam and it is refreshing to see one that wasn’t.
JMO,
Sharon
Hi guyz,
Thanks so much for the understanding. I now feel badly about being so rude in the first place instead of just explaining. It just gets stressful when everyone keeps knocking him down and it feels like no one is there to lift him back up. So I apologize for my hot headedness and appreciate everyone’s comments.
Lindz
Good luck with your brother’s case Linds
Hey Lindz,
Gimme a break! Your brother lied to us about many things! You can get as mad as you want. The truth hurts. That “Boys will be boys” is crap!!! Your bro was respobsible for millions of dollars from honest, hard working people.
Maybe the SEC will help your ignorant brother to finally grow up!!!!
Lindsay,
Maybe you’ll tell us what those brick and mortar investments were that CEP was supposedly investing in.
Also, who told Trevor that the coast sites were “safe”? That’s what Trevor kept telling the members; it was obviously not true.
I was a supporter of CEP but not anymore. Trevor is the KIng of LIARS!. Trevor should be the one to rot on hell for using God & religion to get money from people. Tell you brother to comeout and give us update. Why he is hiding?
I wonder how he could manage his conscience for causing thousands of people to suffer because of his LIES. Its better for him to do harakiri.
Hi Marius,
If Trevor is involved in a court case, he can not make public remarks without his lawyer’s approval. I seriously doubt that his lawyer would advise him to make public remarks at this early stage of the case.
IF/When Trevor is allowed to make remarks, then he probably will. However, that may be months from now.
JMO,
Sharon
my simple mind asks the question of why Clarise Johnson was able to talk at least semi-freely with her members of 12DP after her indictment by the SEC? I don’t think that a simple, remark to members telling them “hey, I’m sorry about all this, I’m doing my best to look out for you all, nada nada nada…” would be going against a gag order. but who knows? I”m quite simple minded at times.
Mawmaw, thats right. He can comeout just say the same thing or just a few comforting words to his members who trusted their hard earned money to him.
He allowed himself to be interviewed on the local papers and even allowed his sister to speak here. Why he cant be allowed to type even just 1 smiley.
“Trevor is a stand up guy with nothing to hide, which is why he hasn’t been. Maybe instead of being “too stupid” to waste your life bringing other people down you should try doing something that makes you useful and maybe even half as good as Trevor and Clayton.
Lindz”
LMFAO SUCH IRONY!!!!…firstly, he HAS been hiding from his members and that prompted our hostility, secondly that stupid little bro of yours and clayton had already let everyone down except some cheerleaders who profited, so I don’t see that anywhere half as good as you think they are. In fact, now, to most members those two little s**t are low lying beings, who deserve no better advice than the following…Learn from your parents’ mistakes - use birth control!!!!!!!!!!!
I guess Lindsay is too ashame now that she know more from the point of view of investors, of that little devil she called a brother that she is a no show now.
with the latest information from the receiver, lindsay should guard herself with the words that are coming out of her mouth… the receiver has reported that they found that there’s only $100,000 in CEP Trust, and there were significant transfer of funds to trevor, clayton, their relatives and cohorts… and so the plot thickens!
YEAH BAD KARMAS COMING, YOU LINDSAY AND YOUR ENTIRE PACK OF SPECIES WILL SUFFER IMMEASURABLE AMOUNTS OF PAIN BURNING IN THE DEPTHS OF HELL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
LMFAO…HAHAHAHAHAHAHAAA…THERES REALLY NO ARGUING WITH 1 OR 2 PONG GIRLS/BOYS AT MOBOJUMBO FORUM WHO CLAIM INFO COMING FROM RECEIVER IS A LIE…HAHAHAHAHAAA…YEAH WHY WOULD SOMETHING THAT PAYS YOU BE A FRAUD RIGHT?…HAHAHAHAHAHAHAAAA…DO LOOK UP THE MEANING OF PONZI YEAH?…AHAHAHAHAHAHHAHAAAAA…SO HOW MANY IS CHEERING AND HOW MANY IS HURTING?…AHAHAHAHAAHAAA…YEAH WHAT IS THE REAL PURPOSE OF PEOPLE WHO GOT HURT BY THE ******* PROGAM, COME ON TO FORUMS TALK NEGATIVE PUT DOWN CHEERLEADERS HUH????…HAHAHAHAHAHAHAAAA…BTW WHOS SNEAKING FROM FORUM TO FORUM CHECKING OUT WHAT “REALLY” IS HAPPENING???….HAHAHAHAHAHAHAHAAAA…REMEMBER WHATEVER PROFIT YOU MADE NEED TO BE RETURN YEAH?…SO MANY QUESTIONS NOT ANSWERED BY TREVOR AND GANG BUT BY RECEIVER…HAHAHAHAHAHAAA…NO FIGHTING BY QUILTY TREVOR AND CLAYTON INSTEAD BY USELESS GUILTY CHEERLEADERS…HAHAHAHAHAHAHAHAAHHAHAAA…MAY THOSE QUILTY LITTLE CHICKEN *** BURNED BURNED BURNED BURNED BURNED FOR ETERNITY IN HELL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! HAHAHAHAHAHAHAHAHAHA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! HAHAHAHAHAHAHAHAHAHAHAHAHHAHAHAHAHAAAAA!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! HAHAHAHAHAHAHAHHAHAHAHAHAHAHAH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! HAHAHAHAHAHAHAHHAAAAA
Content edited: foul language replaced with asterisks. sharonsopinion
Grow up people, I was a no show because I stopped living my life for your ridiculously low level of belittling anything you can to give yourselves an ego boost.
Oooooh nooooo I’m disappearing again. I must have a life outside bashing people on the computer. Whoa, new concept.