Secretary Cox: Assets of Greene County Businessman and Nine Related Companies
Frozen by Court Order

ATLANTA …Secretary of State Cathy Cox said today that Greene County Superior Court Judge Hugh V. Wingfield has granted the Secretary of State’s request for a preliminary injunction and appointment of an auditor for the assets of John Benjamin (Ben) Stewart, Jr. individually as well as for nine companies under his ownership.  

            Companies named in the order were Union Hosiery, Inc., Stewart Cash Advance, Inc., Pinewood Hunting Inc., Stewart & Lawrence Insurance Agency of Georgia Inc., Preferred Choice Auto Club, Inc., The Point Rental Purchase, Inc., Stewart Family Investments, LP, Stewart Insurance, LTD., J&J Reinsurance, LTD., and Stewart Mortgage Company, Inc. The companies were ordered to cease all business operations which are in violation of the Georgia Securities Act and to submit financial records to the court appointed auditor Russell J. Lipford, Jr., C.P.A., of Macon.

            Secretary Cox said the court’s action was part of an ongoing investigation into Ben Stewart’s business practices, including possible violations of the Georgia Securities Act.  Earlier this year, Stewart Finance Company, another wholly-owned business of Ben Stewart’s, along with two related entities, Stewart National Finance Company and D&E Acquisitions, Inc., filed for bankruptcy protection under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Middle District of Georgia. Secretary Cox said the investigation was prompted by complaints from Georgians who had invested money in Stewart-owned businesses.