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From 1993 through 1998, other governmental agencies also
investigated Jay Hoyt, including the Securities and Exchange
Commission (SEC), the United States Postal Service (USPS), and
the U.S. Trustee. As a result of a referral for further
investigation from the U.S. Attorney’s Office in Seattle,
Washington, to the USPS, postal inspectors in late 1993 commenced
an investigation of Jay Hoyt and the Hoyt organization for
possible mail fraud violations.
During 1993 and 1994, the SEC conducted an ongoing
investigation of Jay Hoyt, but the SEC eventually closed its
investigation and deferred to the USPS’s investigation of Jay
Hoyt that had been commenced in late 1993. In June 1995, postal
inspectors seized numerous documents and records from the offices
of the Hoyt organization pursuant to a search warrant.
In 1995, Hoyt & Sons Ranch Properties (HSRP) partnership,
one of the Hoyt organization’s ranch land partnerships, filed a
bankruptcy petition under Chapter 11 of the Bankruptcy Code in
the Bankruptcy Court. After the bankruptcy filing, the U.S.
Trustee commenced an investigation of Jay Hoyt for possible gross
mismanagement or bankruptcy fraud in connection with HSRP. The
U.S. Trustee also investigated Jay Hoyt in connection with the
Management and MLP bankruptcy cases commenced in 1997.
On November 24, 1998, the Government filed an indictment in
the U.S. District Court against Jay Hoyt and several other
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