We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

SEC Links Real Estate Co. To Ponzi Scheme

Law360 (October 12, 2006, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission has brought a fraud suit against a real estate development company and its founder alleging they orchestrated a $30 million Ponzi scheme.

The agency filed the suit against Pinnacle Development Partners LLC and founder Gene O’Neal in the U.S. District Court for the Northern District of Georgia on Wednesday, and accused them of selling unregistered securities and swindling investors.

The court froze the company’s assets after it ran a U.S. advertising campaign that brought in at least $30 million from...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.