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Securities and Exchange Commission v. French et al
Case Number:
1:23-cv-01443
Court:
Nature of Suit:
Judge:
Government Agencies
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May 02, 2024
SEC Lands $25M Judgment In TikToker-Wannabe Ponzi Suit
A South Carolina man and his companies must pay the U.S. Securities and Exchange Commission nearly $24.9 million to settle claims that he misappropriated investors' money to make Ponzi payments to earlier investors and to pay for luxury cars and over $1 million to TikTok creators, according to judgments issued in Georgia federal court.
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April 05, 2023
SEC Sues SC Man, Alleging Investor Money Misappropriated
The U.S. Securities and Exchange Commission filed suit against a South Carolina man and several of his companies, alleging they misappropriated at least $13.2 million from investors to make Ponzi payments to earlier investors and to pay for personal expenses, including luxury cars and over $1 million in gifts to TikTok creators.