4NExchange, LLC, Paul R. Grant and Ronald Bassett

On May 2, 2002, the SEC obtained temporary restraining orders and asset freezes against 4NExchange, LLC, Paul R. Grant, and Ronald K. Bassett in connection with a Ponzi scheme. The SEC alleged that the defendants fraudulently told at least 200 investors nationwide they could expect returns of 5 to 10 percent per month through investments in currency trading. In actuality, the defendants used only a small amount of investor funds for currency trading and paid investors with funds from new investors. The defendants used the remaining funds for undisclosed personal benefit. For more information about the SEC's action, you can read Litigation Release No. 17500 (May 2, 2002).

The Court appointed Robert G. Wing as Receiver. If you have a question, you can contact the Receiver at:

Prince, Yeates and Geldzahler
175 East 400 South, #900
Salt Lake City, UT 84111
Phone: (801) 524-1000
Fax: (801) 524-1098
Email: rgw@pyglaw.com

http://www.sec.gov/divisions/enforce/claims/4nexchange.htm