First Choice Management Services, Inc. and Gary Van Waeyenberghe

On July 26, 2000, the SEC obtained a temporary restraining order, an asset freeze, and other emergency relief against First Choice Management Services, Inc. (FCMS) and Gary Van Waeyenberghe in the United States District Court at South Bend, Indiana (Cause No. 3:00CV0446RM). The SEC alleges that the defendants committed federal securities violations in connection with a nationwide investment fraud involving "Enhanced Automobile Receivables." For more information about the SEC's action, you can read Litigation Release No. 16635 (July 27, 2000).

The Court appointed Joseph D. Bradley as Receiver to take over the business operations and to locate, preserve, and collect the assets of FCMS.  The Receiver anticipates a distribution equaling approximately 10% of each investor's total investment. 

The Receiver has filed periodic status reports with the Court, and has mailed copies of them to all FCMS investors and brokers.  If you would like a copy of any of the reports, you can contact the Receiver at his mailing address or facsimile number:

Joseph D. Bradley, Receiver
105 E. Jefferson Blvd., Suite 512
South Bend, IN 46601
Fax: (219) 289-4618

http://www.sec.gov/divisions/enforce/claims/fcms.htm