SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person* Libra Securities Holdings, LLC (Last) (First) (Middle) 11766 WILSHIRE BLVD., SUITE 870 (Street) LOS ANGELES CA 90025 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 12/28/2005	3. Issuer Name and Ticker or Trading Symbol FGI GROUP INC [ FLSCQ ]
		4. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)	5. If Amendment, Date of Original Filed (Month/Day/Year)
			6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	2,808,142	D ( 1 )
Common Stock	2,808,142	I ( 2 )	See Footnote 2

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* Libra Securities Holdings, LLC (Last) (First) (Middle) 11766 WILSHIRE BLVD., SUITE 870 (Street) LOS ANGELES CA 90025 (City) (State) (Zip)

1. Name and Address of Reporting Person* RAVICH JESS M (Last) (First) (Middle) 11766 WILSHIRE BOULEVARD SUITE 870 (Street) LOS ANGELES CA 90025 (City) (State) (Zip)

Explanation of Responses:

1. By Libra Securities Holdings, LLC (See explanaton)

2. By Jess M. Ravich, as beneficial owner of approximately 80% of the membership interests of Libra Securities Holdings, LLC. (See explanation)

Remarks:

The Shares are directly owned by Libra Securities Holdings, LLC ("LSH"). Jess M. Ravich is the President and CEO of LSH and (through a revocable trust) owns approximately 80% of its membership interests and therefore also may be deemed to benefcially own such shares

	Libra Securities Holdingvs, LLC, By /s/ Jess M. Ravich, CEO	01/03/2006
	/s/ Jess M. Ravich	01/03/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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