A federal court in Oklahoma City entered a restraining order against defendants Kenneth W. Lee, Simon Yang, Prestige Ventures Corp. and Federated Management Group Inc. The court’s order freezes assets controlled by the defendants, protects records and appoints a temporary receiver to locate and marshal assets for return to defrauded customers.

The order stems from a joint enforcement action filed by the CFTC and the Oklahoma Department of Securities, charging that, since at least July, 2003, the defendants fraudulently operated a commodity futures pool that had at least $8.7 million in assets and 140 participants. The CFTC complaint alleges that in their solicitations the defendants targeted members of Oklahoma City’s ethnic Chinese community. Yang allegedly solicited members of his church.