Lawyer Shot in March Standoff Is Sued by SEC on Alleged Ponzi Scheme

The SEC has accused a Las Vegas lawyer and six other men of violating federal securities law in an alleged Ponzi scheme raising around $450 million from investors

Authorities say Nevada attorney confessed to running operation that raised around $450 million from investors

The SEC says in its complaint that defendants used the bulk of investor money to fund lavish lifestyles.The Securities and Exchange Commission accused a Las Vegas lawyer and six other men of violating federal securities law for their involvement in an alleged Ponzi scheme that raised around $450 million from investors.

Authorities said the alleged scheme unraveled last month when attorney Matthew Beasley confessed to running a Ponzi scheme after he was who had come to his house March 3. In a Ponzi scheme, early investors are paid with funds raised from later investors while the money raised is generally not invested

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

WSJ /  🏆 98. in US

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Musk’s Latest SEC Filing Could Offer Clues to Why He Backed Out of Twitter BoardOn the premiere episode of The Hash podcast, we contextualize elonmusk's step back from the wonderful world of Twitter, the push-pull of India's market regulations and LGF_org's voracious appetite for bitcoin. Listen 🎧:
Read more »

Elon Musk’s SEC filings reserve the right to buy a larger stake in TwitterElon Musk still might slide in the board’s DMs.
Read more »

‎CoinDesk Podcast Network: THE HASH: Musk’s Latest SEC Filing Could Offer Clues to Why He Backed Out of Twitter Board on Apple PodcastsIt’s “The Hash,” for your ears. Special guest TR401 joins this episode to dive into elonmusk’s new SEC filings, coinbase suspending buy orders in India and LFG_org's bitcoin buying spree.
Read more »

Students sue Walden University, alleging scheme to defraud Black women - New York Amsterdam NewsAccording to an explosive lawsuit and news report, Walden University, a popular online and for-profit institution, misrepresented the costs and credits required for an advanced degree and engaged in “reverse redlining” by targeting minority communities.
Read more »

Another Former Employee Sues Collin College Over Disability Discrimination, RetaliationLast week, a former employee sued Collin College over alleged retaliation and disability discrimination.
Read more »