Manning v. City of Auburn

The Securities and Exchange Commission brought a complaint against Charles Phillip Elliott, Charles Phillip Elliott d/b/a Elliott Enterprises, Elliott Securities, Inc., and Elliott Mortgage Co., Inc., for various violations of the Securities and Exchange Act. The district court granted a permanent injunction enjoining further securities violations and appointed Charles O. Farrar as Equity Receiver for Elliott. The Receiver was ordered to take possession of the companies assets, to file an initial report of the state of these assets, and to propose a plan of distribution of assets to victims of Elliott.