Emergency action against Defendants, a New Jersey company and its owner, in connection with an alleged Ponzi scheme. According to the SEC, Defendant owner raised funds from investors by misrepresenting his success as a trader, how he intended to use investors’ money, and his company’s returns, including by altering financial statements to make the funds appear profitable. The SEC further alleges that Defendant owner misused investor money for his own benefit and that when investors sought their money back, Defendant owner falsely stated that the money had been frozen by government agencies.

SEC Litigation Release

SEC Press Release