Jun 10

On or about June 10, 2003, Lannie Blake Lown was indicted by a Harris County, Texas, Grand Jury for Theft over $200,000 and dealing in securities without registration. Mr. Lown is alleged to have stolen funds from hundreds of investors in connection with investments sold through One West Financial Services. Earlier this year (see below), the Texas Securities Commissioner requested the filing of an injunctive, receivership and restitution action which resulted in the appointment of a receiver to preserve and identify assets available for restitution to investors in the alleged scheme. The criminal action is pending in the 179th District Court of Harris County. The Cause Numbers are 943490 and 942160.