Judge Ross's Order implementing his memorandum decision that Boham operated a Ponzi scheme from 1989 to 1995.

JUDGE HERB ROSS

In re RAEJEAN BONHAM, aka Jean Bonham, aka Jeannie Bonham, dba World Plus; WORLD PLUS, INC., an Alaska corporation; and ATLANTIC PACIFIC FUNDING CORP., a Nevada corporation, Debtor(s)	Case No. F95-00897-HAR In Chapter 7
In re BONHAM RECOVERY ACTIONS, a proceeding to jointly administer certain pre-trial issues in numerous related adversary proceedings.	ADV PROC NO F95-00897-168-HAR (BANCAP No. 96-4281) ORDER DETERMINING THAT THE TRUSTEE HAS ESTABLISHED THAT DEBTORS OPERATED A PONZI SCHEME FROM 1989

Pursuant to the Memorandum Decision Determining That the Trustee Has Established That Debtors Operated a Ponzi Scheme From 1989, filed April 7, 2000.

IT IS ORDERED that,

1. ESTABLISHMENT OF FACT THAT PONZI SCHEME EXISTED- The plaintiff-trustee has established, in all the pending individual adversary proceedings being administered in this lead proceeding where he is seeking relief for a fraudulent transfer regarding debtors’ investment contracts, all the material facts necessary to prove that debtors operated a Ponzi scheme from at least December 19, 1989, until December 19, 1995. For this purpose, a "Ponzi scheme" is one as described by the 9^th Circuit Court of Appeals as:

. . . an arrangement whereby an enterprise makes payments to investors from the proceeds of a later investment rather than from profits of the underlying business venture, as the investors expected. The fraud consists of transferring proceeds received from the new investors to previous investors, thereby giving other investors the impression that a legitimate profit making business opportunity exists, where in fact no such opportunity exists.

The trustee, as plaintiff in the individual adversary proceedings being administered in this lead proceeding, shall not be required to prove the existence of a Ponzi scheme from December 19, 1989, at trial or any other pre-trial proceeding.

2. SERVICE; NON-FINAL ORDER- The trustee shall promptly serve a copy of this order and the memorandum decision on any defendants who have joined in the opposition to the trustee’s motion to establish that a Ponzi scheme exists. He need not serve any party who has not specifically joined in. This is a non-final order.

Dated: April 7, 2000

/s/ HERBERT A. ROSS U.S. Bankruptcy Judge

Serve:

Cabot Christianson, Esq., for Trustee

Larry D. Compton, Trustee

John Burns, Esq., for Joint Defense Committee

Rebecca Copeland, Esq., for Joint Defense Committee

Brad E. Ambarian, Esq., for s

Grant E. Courtney, Esq., for s

Ronald Goss, Esq., for s

Pamela Scott, Esq., for Kenneth Wooten,

Shulkin Hutton, for s

Janet Stafford, Adversary Proceeding Manager

Maia Weber, Deputy Clerk, Fairbanks

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