On December 30, 2019, the SEC obtained a temporary restraining order and asset freeze against Todays Growth Consultant Inc. (dba “The Income Store”) and Kenneth D. Courtright, III, TGC’s founder and current Chairman, as well as the appointment of a Receiver for TGC.  According to the complaint, TGC is an Illinois corporation that has sold unregistered investment contracts across the U.S. and abroad.  The SEC alleges that, from at least 2017 through at least October 2019, TGC and Courtright promised investors an endless minimum guaranteed rate of return on revenues generated by websites.  In exchange for an investor's "upfront fee," TGC claimed that it would either buy or build a website for the investor, and develop, market, and maintain the website.  As alleged, TGC falsely promised that it would use investors' funds exclusively for expenses related to the investor's website.  In reality, as alleged, the sales were conducted through unregistered securities offerings, and TGC used new investors’ funds to pay investor returns, in Ponzi-like fashion, and to pay Courtright's personal expenses.

For more information about the SEC’s action, you can read Press Release No. 2020-10 (Jan. 14, 2020).  The Court’s docket number is:  SEC v. Todays Growth Consultant Inc., et al., Civil Action No. 19-cv-08454 (N.D. Ill.). 

The Court appointed Melanie Damian of Damian & Valori LLP as Receiver over TGC.  For the latest information about the Receivership, please visit the Receiver’s website at incomestorereceivership.com.