Lifetime Receiver H. Thomas Moran II, Receiver of LifeTime Capital, Inc.

25Jun/05Off

"Two men sentenced to prison for defrauding millions from investors" -- The Gainesville Sun

Filed under: News Comments Off
23Jun/05Off

Investors, David Svete and Ron Girardot were sentenced on June 23. Mr. Moran and I appeared on your behalf. We read many letters and impact statements to the Court.

Svete was sentenced to 19 ½ years consisting of 16 ½ in prison and 3 years supervised probation. His surrender date is Aug. 15.
In addition an order of forfeiture was entered in the amount of 21 million dollars which Mr. Moran will be designated as collector.

Girardot received 8 1/4 years, 5 1/4 in prison and 3 years supervised probation.

Additionally an order of restitution will be entered at a minimum of $100 million and maximum of $130 million as to each within the next 90 days.

We have been attempting to obtain documents and testimony from Svete's parents. We did have a partial deposition of William Svete at which time he produced six documents. We were told that he was invoking his Fifth Amendment privilege as to the balance. We asked the Court to intervene. An order was issued requiring a privilege log ( description of the documents) and set a briefing schedule.

I filed our brief and on Monday the Court ordered production of the documents and the Svete's to testify. I am advised by their counsel that they are evaluating their response to the Order.

From the logs it appears that the documents are financial in nature relating to two Svete related partnerships including about 27 certificates of deposit.

When we receive the documents, if permitted by the Court, I'll report as to their contents.

If you have questions, call or e-mail

Andrew Storar, Examiner

23Jun/05Off

RE: United States v. Svete, et all
USDC Case Number: 3:04cr10/MCR

David Svete and Ron Girardot were sentenced today, June 23, 2005.

Svete was sentenced to 19½ years, consisting of 16½ in prison and 3 years supervised probation. His surrender date is August 15. In addition, an order of forfeiture was entered in the amount of 21 million dollars.

Girardot was sentenced to 8 1/4 years, 5 1/4 in prison and 3 years supervised probation.

Additionally, an order of restitution will be entered at a minimum of $100 million and maximum of $130 million as to each within the next 90 days.

More details will be provided in a few days.

Filed under: News Comments Off
17Jun/05Off

Dear LifeTime Investor,

Several of you have contacted my office recently with comments regarding the website. It has been and continues to be my goal that this website be updated frequently. New systems have been initiated and you should begin to see more frequent updates to the website. I hope this is helpful.

RE: United States v. Svete, et all
USDC Case Number: 3:04cr10/MCR

The Sentencing Hearing for Mr. Svete and Mr. Girardot is scheduled to begin at 9 am on June 23, 2005. Of the Victim Impact Statements sent to each investor, my office received approximately 330 complete Statements. I have read and reread every single one of your statements. With the comments and information from these Statements, I will testify at the Sentencing hearing as to the pain, hardship and anxiety created by the defendant's actions. In addition, I will share the many opinions you offered regarding the punishment these gentleman should receive. The examiner also received approximately 40 Statements.

As soon as we learn of the sentence, we will post the information on the website and update the pre-recorded telephone message.

Financing

Of the many responsibilities of this Receivership the most crucial is continuing to pay the premiums on the policies. To date, funds to pay premiums and receivership expenses have come from loans and policy maturities. We continue to work diligently in our efforts to obtain long-term financing for the premiums and expenses of the Receivership. As soon as we have more information regarding this we will update you.

Claims Process

If you have not returned a Claims packet to this office, please do so as soon as possible. It is very important that you participate in this process. If you have questions regarding the completion of these forms, or need another packet, please call the Receiverís office at 405-607-2722.

Updated FAQ

A new set of frequently asked questions is being drafted to post on the website. It should be posted in the next couple of weeks.

The purpose of this website is to enable me to communicate with you as efficiently and cost effectively as possible. If you have a question for which you do not find an answer on this website, please feel free to send us your questions and/or suggestions via email to lifetimereceiver@coxinet.net.

Thank you for continuing to check this website for information.

With Best Regards,

H. Thomas Moran II, Receiver

Filed under: News Comments Off
4Jun/05Off

RE: United States v. Svete, et all
USDC Case Number: 3:04cr109/MCR

The Court recently continued the sentencing hearing for Mr. Svete and Mr. Girardot from May 26 to June 23, 2005. Earlier in the case, after the jury rendered its verdict, Mr. Svete filed a Motion for New Trial. This Motion was denied by the Court. Mr. Svete has now filed a second Motion for New Trial. The Court has set arguments on the Motion for New Trial for 8:30 a.m. on June 23. The sentencing hearing is scheduled to begin at 9:00 a.m. on June 23. Motions for new trial in criminal cases are seldom granted. The Government has filed a Response Opposing Mr. Svete's latest Motion for New Trial

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1Jun/05Off

Premiums for June 2005

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