Physicians Guardian Unit Investment Trust

On May 13, 1999, the SEC obtained temporary restraining orders, asset freezes, and other emergency relief against Physicians Guardian Unit Investment Trust (PG Trust), Physicians Guardian, Inc, and other entities and individuals. The SEC alleged that the defendants fraudulently sold unregistered units in PG Trust and another company. For more information about the SEC's action, you can read Litigation Release No. 16167 (May 27, 1999)

The Court also appointed Gwynne Young as Receiver to collect and distribute assets of PG Trust and Physicians Guardian. The Receiver has collected approximately $1.5 million and is trying to recover other assets. The Receiver anticipates collecting the remaining assets by June 2003. Once all assets have been collected, the Receiver will submit a proposed distribution plan to the Court. Upon Court approval, the Receiver will distribute money to investors. The claims deadline in the Receivership has expired and all objections to claims have been resolved by the Court. There are 121 approved investor claims.

If you have a question, you can contact Kathy Adams, the Receiver’s assistant, at (813) 223-7000 ext. 4347 or kadams@carltonfields.com.

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