RECEIVER: Trevor Cook May Be Hiding ‘Millions’ Of Iraqi Dinars, Faberge Eggs; SEC Has ‘Cooperating Witnesses’ In $190 Million Ponzi Case; Cook Wants $105 Monthly Outlay For Housecats

Alleged Minnesota Ponzi schemer Trevor Cook may be hiding “millions” of Iraqi Dinars once stored on the third floor of the Van Dusen mansion in Minneapolis, according to the court-appointed receiver in the case against Cook and former Christian radio host Pat Kiley.

Cook also had a “vast” collection of expensive watches and “numerous” jeweled Faberge Eggs that have not been located. He also had access to an unspecified sum of cash from purported “gambling” winnings stored in a drawer in his home, receiver R.J. Zayed said.

Despite Cook’s access to funds and his refusal to cooperate in the ongoing search for assets, Zayed said, Cook asked U.S. District Chief Judge Michael Davis to approve monthly payments from frozen assets totaling $6,679.

Included in the request, according to court filings, was a monthly outlay of $105 to cover the expenses of his three housecats,  and $100 for a gym membership.

Cook had a ROM exercise machine that retailed for $14,165 in his Apple Valley, Minn., home, according to Zayed.

Zayed now wants to inspect the home, which Cook shares with his wife, Gina Cook, and the housecats, according to court filings. The purpose of the proposed inspection, which requires judicial approval, is to determine if Cook is hiding assets inside the home.

The filing by Zayed revealed that the SEC has “cooperating witnesses” in the case, identifying them as individuals who saw the assets before they vanished. Zayed said it was possible that Cook learned about the SEC probe in June 2009, and engaged in efforts to hide assets and shelter them from potential seizure by transferring them to family members, including his wife and brother.

“[Cooperating Witness] #8, a former associate of Trevor Cook, advised that Mr. Cook had millions of Iraqi Dinars located on the third floor of the Van Dusen mansion,” Zayed said.

None of the Iraqi currency has been located, Zayed said.

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2 Responses to “RECEIVER: Trevor Cook May Be Hiding ‘Millions’ Of Iraqi Dinars, Faberge Eggs; SEC Has ‘Cooperating Witnesses’ In $190 Million Ponzi Case; Cook Wants $105 Monthly Outlay For Housecats”

  1. Alleged Minneapolis-Based Fraudster Trevor Cook Jailed for Failing to Surrender Assets in SEC Case
    FOR IMMEDIATE RELEASE
    2010-12

    Washington, D.C., Jan. 25, 2010 — A federal judge today ordered Minneapolis-area resident Trevor G. Cook jailed for failing to surrender more than $35 million in assets as a result of the Securities and Exchange Commission’s fraud charges and asset freeze against him.

    Read the full S.E.C. press release here:

    http://www.sec.gov/news/press/2010/2010-12.htm

      (Quote)

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