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IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF MARYLAND
SECURITIES AND EXCHANGE COMMISSION, PLAINTIFF
vs.
KEVIN B. MERRILL, JAY B. LEDFORD, ET AL, DEFENDANTS
CIVIL ACTION No.: RDB-18-2844

This website has been established and will be maintained by Gregory S. Milligan, Receiver in the matter of Securities and Exchange Commission v. Kevin B. Merrill, Jay B. Ledford, et al., in the United States District Court for the District of Maryland; Case No. 18-CV-02844-RDB (“SEC Action””) to facilitate the administration of the Receivership Estate, as well as to timely and efficiently communicate with investors, creditors and other stakeholders of the various Receivership Parties¹.

There are two separate cases pending related to the alleged actions of defendants Kevin B. Merrill, Jay B. Ledford, and Cameron R. Jezierski:

• Civil case, brought by the Securities and Exchange Commission (“SEC”) against the above individual defendants and certain entities they owned and/or controlled. A copy of the SEC’s Complaint is available here and the SEC’s Amended Complaint is available here.

• Criminal case, brought by the United States Attorney’s Office for the District of Maryland against the above individual defendants, styled United States of America v. Kevin B. Merrill, Jay B. Ledford, Cameron R. Jezierski; Case No. 18-CR-00465-RDB (D. Md.). A copy of the Indictment is available here and the First Superseding Indictment is available here. On October 11, 2019 a Judgement in Criminal Case was entered against Kevin B. Merrill and on October 29, 2019 a Judgement in Criminal Case was entered against Jay B. Ledford.

The Receiver is not a party in the criminal case.

Pursuant to the Order Appointing Temporary Receiver dated September 13, 2018, entered by the United States District Court for the District of Maryland (“Receivership Order”), Gregory S. Milligan (“Receiver”) was appointed as Receiver. On November 27, 2018, upon a motion filed by the Receiver, a First Amended Order Appointing Temporary Receiver (“First Amended Receivership Order”) was entered to modify and clarify the relief granted in the Order Appointing Temporary Receiver. On September 14, 2021, upon a motion filed by the Receiver, a Second Amended Order Appointing Temporary Receiver (“Second Amended Receivership Order”) was entered to further modify and clarify the prior relief granted in the Receivership Order and the First Amended Receivership Order. On October 4, 2023, upon a motion filed by the Receiver, a Third Amended Order Appointing Temporary Receiver (“Third Amended Receivership Order”) was entered to further modify and clarify the prior relief granted in the Receivership Order, First Amended Receivership Order and Second Amended Receivership Order.

Pursuant to the Receivership Order and the First Amended Receivership Order, the Court in the SEC Action took exclusive jurisdiction and possession of the assets, of whatever kind and wherever situated, of Defendants and their affiliate entities, including but not limited to the following Receivership Parties:

Kevin B. Merrill
Jay B. Ledford
Cameron R. Jezierski
*Amanda Merrill
*Lalaine Ledford
Global Credit Recovery, LLC
Delmarva Capital, LLC
Rhino Capital Holdings, LLC
Rhino Capital Group, LLC
DeVille Asset Management, Ltd.
Riverwalk Financial Corporation
K. B. Merrill Associates
Financial Reclamation Group, LLC
Halo Credit Solutions, LLC
JBL Holdings, LLC
Jay B. Ledford, PC
Joseph Finance Company
Leddy Bear, Ltd
Ledford & Associates, PLLC
King Fischer, Ltd, d/b/a LP Investments, Ltd
NLEX, Inc.
Receivables Portfolio Interchange, Inc.
Riverwalk Capital Investments, Inc.
Riverwalk Credit Solutions, Inc.
Riverwalk Debt Solutions, Inc.
Riverwalk Fixed Asset Group, LLC
SCUSA Financial, Inc.
Vaquero Asset Management, Inc.
CRJ Holdings, LLC
Centurion Capital Corporation
GCR CBL CP I, LLC
GCR CBL CP II, LLC
GCR CBL CP III, LLC
GCR CBL CP IV, LLC
GCR HCP Holdings I, LLC
GCR Mercer Holdings, LLC
Kevin B. Merrill Revocable Trust
J Trust

* The assets of Relief Defendants Amanda Merrill and Lalaine Ledford are Receivership Assets to the extent such assets constitute fraudulently obtained funds and/or any and all assets acquired, either directly or indirectly, using such funds.

The Receiver’s duties are set forth in the First Amended Order Appointing Temporary Receiver.

On November 13, 2018, the Receiver filed his Initial Preservation Plan outlining his preliminary intentions regarding administration of the Receivership Estate. 

1Unless otherwise defined, all capitalized terms have the meaning set forth in the First Amended Order Appointing Temporary Receiver.