Andrew S. Mackey and Inger L. Jensen

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 20627 / June 23, 2008

Securities and Exchange Commission v. Andrew S. Mackey and Inger L. Jensen, Civil Action No. 1:08-CV-2068 (N.D. Ga. June 20, 2008)

Securities and Exchange Commission Files Subpoena Enforcement Action

Andrew S. Mackey and Inger L. Jensen Fail To Produce Documents or Appear For Testimony Before Commission Staff

The Securities and Exchange Commission today announced that on June 20, 2008, it filed a subpoena enforcement action in the U. S. District Court for the Northern District of Georgia against Andrew S. Mackey ("Mackey") and Inger L. Jensen ("Jensen"). Pursuant to subpoenas issued on March 6, 2008, Mackey and Jensen were obligated to produce documents to the staff by March 14, 2008, and appear for testimony at the Atlanta Regional Office of the Commission on April 1, 2008. Neither Mackey nor Jensen produced any documents pursuant to the subpoenas, and neither appeared for testimony as required. Accordingly, the Commission filed its Application for an Order to Show Cause and for an Order Requiring Obedience to Subpoenas, along with a supporting Memorandum and Declaration.

In its Application and supporting filings, the Commission alleges that on February 21, 2008, the Commission issued its Order Directing Private Investigation and Designating Officers to Take Testimony ("Formal Order") in the ASM Financial Funding Corporation investigation ("ASM"). The Formal Order authorizes the staff to conduct an investigation into whether, among other things, Mackey and Jensen, or certain other persons and entities associated with ASM, violated the anti-fraud and securities registration provisions of the federal securities laws.

Pursuant to its Application, the Commission is seeking an Order directing Mackey and Jensen to show cause why the Court should not enter an Order requiring them to appear for testimony and produce the required documents.