SEC Charges Pennsylvania Investment Adviser Scott Mason With Misappropriating More Than $20 Million from Advisory Clients

The Securities and Exchange Commission today charged former Pennsylvania-based investment adviser Scott J. Mason, and his companies Rubicon Wealth Management LLC and Orchard Park Real Estate Holdings LLC, with misappropriating more than $20 million from at least 13 Rubicon advisory clients. According to the SEC’s complaint, from at least 2014 to 2024, Mason made unauthorized transfers of money from Rubicon clients’ accounts to his own accounts and those of his entities, Rubicon and Orchard Park. As the complaint alleges, Mason used the money for his own purposes, including to pay country club dues, transfer it to other clients, and purchase a portion of a miniature golf course in New Jersey.