Action against Defendants, a radio host and his two companies, for an alleged Ponzi scheme. According to the SEC, Defendant host used his radio shows to solicit investors in his fund, falsely stating that he was a licensed investment adviser and falsely claiming that his fund offered certain guaranteed returns. The SEC alleges that Defendants misappropriated investor funds for personal expenses and to pay other investors and that Defendant host sent investors falsified statements.

SEC Litigation Release

SEC Complaint