Wayne Hicks Court Files

JPMORGAN CHASE BANK, N.A. v. MY ICIS, Inc. et al Plaintiff: JPMORGAN CHASE BANK, N.A. Defendant: MY ICIS, Inc., Wayne Hicks and John Barrington   Case Number: 3:2007cv03031 Filed: July 16, 2007   Court: Arkansas Western District Court Office: Harrison Office [ Court Info ] County: Carroll Presiding Judge: Honorable Jimm Larry Hendren   Nature of Suit: Contract - Negotiable Instrument Cause: 28:1332 Diversity-Other Contract Jurisdiction: Diversity Cease and Desist Order: Arkansas State forces two Berryville businesses to close their doors By Anna Mathews, Carroll County News Friday, March 2, 2007 1:04 PM CST BERRYVILLE - Two Berryville businesses, including one raided by IRS agents last May, were issued a Cease and Desist Order by the Arkansas Securities Department. The order was issued Feb. 23 after customers complained they were unable to access more than $1.6 million in investments and deposits with the two businesses, according to a press release from the Arkansas Securities Department (ASD). Named in the order were: Americans for Lawful Financial Independence and Information; My Icis, Inc.; Wayne Hicks, Lori Hicks and all persons employed by or otherwise affiliated with those entities or those persons. The two businesses operated out of a log cabin across the highway from Wal-Mart in Berryville. Wayne Hicks is named in the order as “instrumental in the operation of both” businesses, with residences in Berryville and Branson, Mo. He previously operated the Liberty Tree Restaurant on U.S. Hwy. 62 at the east end of Berryville, and promoted the sale of the Liberty Tree Dollar. Hicks, on his MYICIS Web site, states that he has spoken to state officials about the cease and desist order and has requested a hearing. David Smith, attorney for ASD, confirmed that a request has been received and Hicks will receive a timely hearing. Asked if the ASD was working in conjunction with the IRS, which had served a felony warrant on My Icis last May - occupying the building and carting away boxes of documents, Smith said “we're cooperating with them.” Smith said the FBI and IRS have confirmed there is an ongoing criminal investigation underway naming Hicks and My Icis, and they are asking for complainants to come forward by sending information to: Attention My Icis, P.O. Box 391, Fayetteville, AR., 72702. Smith said the state securities department is also asking complainants to come forward. So far, their list contains names of individuals from across the nation, but none from Berryville or from the state of Arkansas. Three of those complainants reportedly invested a total of more than $572,000 in Americans for Lawful Financial Independence and Information (ALFII) Pool Funds. Another 26 individuals reportedly deposited a total of $1,057,000 in My Icis, claiming “MYICIS through Hicks are not allowing access to their money.” The release says investors in ALFII and depositors with My Icis, Inc. have been unable to access their money since September 2006 and that false representations have been made by Hicks that all funds are being held by a bank and will be released after a period of one year. According to the press release, the order to cease and desist focused on nine investment pools purporting to pay a return of five per cent a month or 60 percent annually. It said the investors were members of ALFII, an unincorporated entity, which claimed to be a not-for-profit organization. Participation in the investment pools was solicited through an internet Web site. Investors were instructed to mail their investment money to ALFII in Berryville, or deposit it in accounts maintained by My Icis, Inc. Additionally, it said investors using My Icis, Inc. were instructed to select from nine different investment pools and email the amount to invest in each to the My Icis, Inc. Web site. My Icis, Inc. also operated a Digital Money Order service for its members from the Berryville location. Members were instructed to send money to My Icis, Inc. to be held in their individual accounts. Members were then to log onto the My Icis Web site and print money orders from money held in their accounts. The Cease and Desist Order, signed by Arkansas Securities Commissioner Michael B. Johnson, states that although Arkansas requires registration and licensing, My Icis, Inc. has never submitted an application for registration to the Arkansas Securities Department. It further states that any person who knowingly violates Arkansas Code Annotated 23-42-507 shall be guilty of securities fraud, a Class B felony, and any person who knowingly violates Arkansas Code Annotated 23-42-501 shall be guilty of the offense of felony offer or sale of unregistered and nonexempt securities, a Class D felony.