Welcome to the website of H. Thomas Moran II, Receiver of Edward T. Stein Associates, Ltd. The primary purpose of this website is to keep the investors of Edward Stein informed of the actions of the Receiver and informed of current events.
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SEC Appoints Tom Moran as Receiver of Edward Stein Ponzi Scheme Case
The Securities and Exchange Commission announced today that the Honorable Gerard E. Lynch, United States District Judge, entered an order yesterday, April 14, 2009, appointing H. Thomas Moran, II as receiver for the assets of defendant Edward T. Stein and entities under his control, i.e., Edward T. Stein Associates, Ltd.("ETSA"); Gemini Fund I, L.P. ("Gemini"); Prima Capital Management LLC ("Prima"); Vibrant Capital Corp. ("Vibrant"); and Vibrant Capital Funding I LLC ("Vibrant Capital Funding"). Mr. Moran is president and chief executive officer of the Heritage Group, a provider of consulting and receivership services with a focus on life and viatical settlements. Among other things, the Court's order provides that, as receiver, Mr. Moran has the authority to take immediate custody and control of all assets of Mr. Stein, ETSA, Gemini, Prima, Vibrant, and Vibrant Capital Funding.
On April 1, 2009, the Commission filed this enforcement action charging Edward T. Stein with securities fraud. At that time, Judge Lynch entered an order freezing the assets of Mr. Stein and entities under his control and requiring accountings of those assets. The Judge's April 1 order also included a preliminary injunction barring Mr. Stein from committing further securities law violations. See Litigation Release No. 20983 (April 1, 2009).
According to the Federal Bureau of Prisons website, Mr. Stein is currently being held at the Federal Correctional Institution in Otisville in the Southern District of New York with a pending release date of January 10, 2018
Simply described, a Receiver is a person legally appointed to receive and have charge of property or money involved in a lawsuit (Webster's New Explorer Dictionary).