Claims Fund for Clients of Heartland Financial Services, Inc.

On August 10, 2000, the SEC was granted a temporary restraining order against Heartland Financial Services, Inc., JMS Investment Group, LLC, Kenneth R. Payne, and others in connection with their participation in an alleged Ponzi scheme. The court also froze the assets of all of the defendants. For more information about the SEC’s action, read Litigation Release No. 16650 (August 10, 2000).

On August 21, 2000, the court appointed James A. Knauer as receiver to oversee the liquidation of Heartland Financial Services and JMS Investment Group, LLC. The receiver has set up a website for investors that includes information about the litigation and a form for electronically filing claims.

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