October 18, 2022/US SEC The SEC has obtained final judgments against eight defendants and one relief defendant in its case against them for their role in a $345 million Ponzi-like scheme. On September 13, 2018, the Commission filed an emergency civil injunctive action in United States District Court for the […]
Frauds & Scandals
SEC Charges Company and Estate with Fraudulent Investment Scheme
October 18, 2022/US SEC The Securities and Exchange Commission filed charges against the estate of Stephen Romney Swensen, a former registered investment adviser representative, for operating a fraudulent investment offering from 2011 until 2022 that raised over $29 million from more than 50 investors. The SEC’s complaint alleges that Swensen, […]
New Jersey Real Estate Development Firm and Four Executives Charged with $600 Million Ponzi-Like Fraud
October 14, 2022/US SEC On October 13, 2022 the Securities and Exchange Commission announced charges against New Jersey-based National Realty Investment Advisors LLC (NRIA) and four of its former executives for running a Ponzi-like scheme that raised approximately $600 million from about 2,000 investors. The SEC’s complaint alleges that beginning […]
