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SEC Obtains Emergency Relief, Charges Two Florida Companies and Their Principal Officer with Operating a Ponzi Scheme

The Securities and Exchange Commission announced that it filed an emergency action and obtained a temporary restraining order, an asset freeze, and the appointment of a receiver to stop an alleged Ponzi scheme and misappropriation of investor proceeds perpetrated by Coral Springs, Florida resident Johanna M. Garcia and two entities she controls. According to the […]

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Court Enters Judgments Against Investment Adviser Firm and Owner for Undisclosed Compensation Practices

On July 6, 2021, a federal district court in Connecticut entered final judgments against investment adviser Westport Capital Markets, LLC and its sole owner, Christopher E. McClure. The judgments order that Westport Capital and McClure are jointly and severally liable for disgorgement of $632,954, along with $187,807 in prejudgment interest, for a total disgorgement and […]

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Strategic Student & Senior Housing Trust, Inc. Investor Losses

Strategic Student & Senior Housing Trust, Inc.  is a public, non-traded REIT focused on student and senior housing. SSSHT was first marketed to investors in 2017 through a private placement and went public in May 2018, raising about $110 million from investors.  SSSHT advertises that it is intended to provide “stability, diversification, income, and potential […]

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SEC Obtains Final Judgment Against Defendant in Oil Company Scheme Targeting Chinese-Americans and Eb-5 Investors

On June 9, 2021, the United States District Court for the Northern District of California entered a final judgment against Bingqing Yang, the CEO of Luca International, LLC, in a previously-filed action against eight defendants alleging an affinity fraud scheme that generated more than $68 million from illegal sales of securities in an oil and […]

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Lordstown Motors Losses?

Lordstown Motors Corp.’s shares dipped on Monday as the electric truck startup’s two top executives stepped down after the company’s board found evidence of inaccurate statements to investors.  The onetime star special purpose acquisition company’s stock took its biggest one-day drop ever. Chief Executive Steve Burns and Chief Financial Officer Julio Rodriguez have resigned from […]

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