SEC v. Steven B. Heinz, et al., Case No. 2:13-cv-00753 (D. Utah).  On August 8, 2013, the SEC announced it obtained a temporary restraining order and emergency asset freeze against Steven B. Heinz and his company S.B. Heinz and Associates, Inc.  The SEC alleges that Heinz raised almost $4 million from former clients, family members, and friends to assist him in executing rapid buy and sell orders of futures contracts. According to the SEC, Heinz used investor money to make it appear as though he is running a successful investment business when, in reality, S.B. Heinz suffered around $1.5 million in trading losses.  The SEC also alleges that Heinz paid purported returns to earlier investors using new investor money in a Ponzi like scheme.  He also used investor money for personal purposes and for S.B. Heinz’s business expenses such as staff salary and office rent.  The SEC charged Heinz and S.B. Heinz with violating of Section 17(a) of the Securities Act, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Sections 206(1) and 206(2) of the Investment Advisers Act.  The SEC seeks further injunctive relief, disgorgement, and civil monetary penalties.  The SEC also sued Susan K. Heinz, Heinz’s wife, as a relief defendant in order to disgorge money she received from Heinz’s alleged misconduct.