Strategic Global Investments, Inc. (STBV)

[420man]

Just a reminder for the bagholders, and a bit of info for the newbies....

I. FACTS
In June of 1982, Andrew Fellner and Robert B. Palmer, intervenors in this action, were arrested by federal agents for the violation of various federal anti-fraud statutes.1 At the time of Fellner's arrest, he was carrying a briefcase containing $1,132,550 ("the Briefcase money"). This money was seized and immediately deposited into an interest-bearing account. Shortly thereafter, F.B.I. agents located a second cache in a locker at the Seattle airport. This fund consisted of $100,000 in U.S. dollars and $1,169,385 in Swiss Francs ("the Seattle money"). The Seattle money was seized by the F.B.I. and deposited in a vault at its regional office in Seattle.
The arrests and seizures were based on a two count information implicating Fellner and Palmer in an elaborate real estate fraud and forgery scheme to defraud plaintiff State Savings of approximately $9 million. Upon learning of these seizures, the Internal Revenue Service served the F.B.I. on June 22, 1982 with a notice of levy on what it characterized as Fellner and Palmer's income. On July 7, 1982, Fellner and Palmer pleaded guilty to the charges of fraud. During this period, several calls had been made and at least one letter sent by State Savings and Loan to the I.R.S. requesting that the levy on the Seattle money be released and that the money be returned to State Savings or at least be deposited in an interest-bearing account.