FORTUNE'S 2012 MOST POWERFUL WOMEN ENTREPRENEUR, THERESA FETTE, NAMED A DEFENDANT IN CLASS ACTION SUIT AGAINST PROVIDENT TRUST GROUP

Provident Trust Nevada filed complaint  

Our Law Firm along with the Law Offices of Clyde DeWitt, Snyder Dorenfeld (Attorneys David Dorenfeld and Mike Brown) have filed a Class Action Suit in Clark County, Nevada against Theresa Fette, CEO of Provident Trust, Jason Helquist, President of Provident Trust Group, LLC ("Provident Trust"), Justin Bachman, President of My Self Direct, LLC ("My Self Direct") and My Self Direct.  Fette and Helquist, who are tax lawyers, are owners of both Provident Trust and My Self Direct. Fette was named  number fourth of the most 10 most powererful women entrepreneurs in 2012 by Fortune Magazine.

The Complaint seeks damages on behalf of the victims, who invested with cash or a Self-Directed IRA ("SDIRA") held by Provident Trust and/or  My Self Direct, in the Bay Area Equity Group, LLC ("BAE") Ponzi scheme as well as other customers of Provident Trust who have paid excessive, hidden fees to Provident Trust for non-compliant or non-existent SDIRA services.  The Complaint also seeks damages for the conversion by Defendants of  the SDIRA assets of Provident Trust's customers without their knowledge and/or consent. The Complaint contains claims for Rescission, Breach of Contract, Breach of Fiduciary Duty, Fraudulent Concealment, Civil Conspiracy and Conversion.

We want to thank all of the whistleblowers  and witnesses who have come forward with information to assist us in pursuing justice on behalf of these victims. As you know the BAE perpetrators have plead guilty and are awaiting sentencing in Santa Clara County.  A special thank you to Prosecutor Kathy Wells and Investigator Santiago Trejo for their quick and successful prosecution of these Ponzi Schemers.

Cathy Lerman continues to make herself available to speak with witnesses and victims about the BAE Ponzi scheme and the involvement of Defendants Provident Trust, My Self Direct, Fette, Helquist and Bachman.  You may reach Ms. Lerman via email at clerman@lermanfirm.com.  Thank you.