The Securities and Exchange Commission today filed a subpoena enforcement action in the U.S. District Court for the Northern District of Illinois against American Bondholders Foundation, LLC ("ABF"), a Tennessee-based limited liability company, for failing to produce documents in response to an investigative subpoena. According to the filing, the SEC is investigating possible fraud in connection with ABF's offer and sale of defaulted bonds issued by the Republic of China (the government of China from approximately 1912 to 1949).

According to the filing, ABF has failed to make complete productions of, among other things, documents concerning ABF's use of investor funds, commissions paid by ABF to third parties, financial and accounting records, and communications with investors.

The SEC's application seeks an order from the federal district court compelling ABF to produce all documents requested by the subpoena. The SEC is continuing to conduct its fact-finding investigation into these matters and has not concluded that there have been any violations of the federal securities laws.