General Financial Services (GFS) is being named as the central figure in this series because it is the holding company for most of the pension planning and real estate investment activities of the promoters discussed in these articles.
Most of the same people who found GFS have organized and sold real estate projects under the names Realty Equities Corporation, Preffered Investments Corporation, and NOVEMCO, Inc., according to the Securities and Exchange Commission (SEC). A pension-planning firm, Employee Benefit planning, was the first of these related firms to be organized and continues to be active today.
The SEC, in its complaint against the firms listed above, also named as defendants and listed their cities of residence as follows: Harry Ruddy, of Islip, N. Y.; Hans Richard Banziger, of Reston: Walter Traugott Banziger of Annandale; David Lester Woody, of Spencerville, Md. Edward Arnold Woody, of Silver Spring, and Timothy Fran is Pegler, of Strasburg. Va.
Pegler works for his own company Timothy F. Pegler and Co. Ltd. Ruddy apparently is no longer active.
All of the men listed above signed a consent judgment in which they did not admit or deny the SECD allegations, and in which they agreed not to engage in certain acts and practices.