SEC vs. MSC Holdings USA

SEC vs. MSC Holdings USA, LLC, McClintock, Alexander, et al.

On November 19, 2012, the U.S. Securities and Exchange Commission (“SEC”) filed an application for a temporary restraining order and other equitable relief, alleging that Defendants Billy Wayne McClintock, individually and doing business as MSC Holdings (“McClintock”), and Dianne Alexander a/k/a Linda Dianne Alexander (“Alexander”) were operating a type of Ponzi scheme known as a “prime bank fraud” from 2002 to the present using entities called MSC Holdings, Inc., MSC GA Holdings, LLC, and MSC Holdings USA, LLC (collectively “relief defendants”).

The SEC alleged that McClintock and Alexander raised over $15 million from over 200 investors in more than 20 states, including Georgia, by telling investors that their money would be placed with a clandestine overseas entity that McClintock and Alexander refer to only as “the Trust.” McClintock and Alexander misrepresented that the Trust would generate a return of at least 38 percent.

On the same day, November 19, 2012, U.S. District Judge Steve Jones granted the SEC application and entered an Order freezing assets of the Defendants, prohibiting the destruction of documents, and granting additional relief.   The Defendants later agreed to the entry of permanent injunctions against them.

Upon recommendation of the SEC, U.S. District Judge Steve Jones appointed Jason Nohr as the Receiver for MSC Holdings and related companies on February 11, 2013

The Receiver and his team have been working diligently to uncover the money Defendants scammed from investors, and to locate assets purchased with those ill-gotten gains.  The Receiver and his team will continue to work on recovery of those funds and the assets of Defendants McClintock and Alexander in an effort to return money to the victims of the Defendants’ fraudulent scheme.

Those who have invested money in this scheme may access information and filings in this case, including the SEC’s Complaint and the Receiver’s Interim Reports.  In addition, defrauded investors should provide the Receiver with detailed information about their claim, including their contact information, through this website.

(1) Complaint for Injunctive Relief

(19) Order Appointing Receiver

(25) Receiver’s First Interim Report