Civil Action No. The SEC sued Shane and Veronika Vaessen, Womack, Gaines, and others, in September 1998 alleging that they had violated the federal securities laws in connection with a Ponzi scheme organized by Shane Vaessen and his wife, Veronika. Contrary to the representations of the Vaessens and ICC 2000 sales agents, investor funds were primarily used to pay interest and principal to earlier investors, to pay sales commissions, and for the Vaessens' personal expenses. The Vaessens' last known address was in Las Vegas, Nevada. Womack's last known address was in St. Petersburg, Florida.
Gaines is now in jail in Lebanon, Indiana.