January 12, 2024
A Texas federal judge has given the U.S. Securities and Exchange Commission a partial early win in its suit against an investment adviser and his firm over an alleged $58 million Ponzi scheme, including portions of all four counts of antifraud provision violations and two counts of Investment Advisers Act violations.
November 28, 2022
The U.S. Securities and Exchange Commission on Monday asked a Texas federal court to permit the commission to drop a trio of trustees from its suit alleging that an investment fund manager defrauded investors, saying that the trust has now returned substantially all its proceeds underlying the dispute.
August 20, 2021
The U.S. Securities and Exchange Commission hit an investment fund manager with a lawsuit in Texas federal court Friday alleging he defrauded investors out of $58 million while using two funds as a "piggy bank" to pay business expenses and live a lavish lifestyle.