Ray M. White and CRW Management, L.P.

On March 4, 2009, the SEC obtained an asset freeze and appointment of a Receiver against Ray M. White and his company, CRW Management, L.P., in connection with an alleged Ponzi scheme. According to the complaint, the defendants defrauded over 250 investors of at least $10.9 million in a purportedly lucrative foreign currency program that achieved returns as high as 8.1% per week for investors. The Court also froze the assets of two relief defendants, Christopher R. White and Hurricane Motorsports, LLC.

The Court appointed Timothy A. Mack as Receiver to, among other things, marshal and preserve the assets of the defendants and relief defendants for an eventual distribution to harmed investors. For more information about the SEC’s action, you can read Litigation Release No. 20925 (Mar. 5, 2009).

On March 11, 2009, the Court entered agreed preliminary injunctions against the defendants and relief defendants, pending a final resolution of the case on the merits.

Investors who have questions about the Receivership can contact the Receiver at:

Mr. Timothy A. Mack
Mack & Matheson, PLC
One Energy Square
4925 Greenville Avenue, Suite 880
Dallas, Texas 75206
Phone: 214-378-6404
Email: CRWReceivership@LSSMLLP.com

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