SEC Obtains Court Order to Stop Investment Adviser's Alleged Ongoing Offering Fraud

The Securities and Exchange Commission today announced the filing of an emergency action against Martin A. Ruiz of New York, and two entities he controls, Carter Bain Wealth Management, LLC (Carter Bain) and RAM Fund, LP (RAM). Shortly after filing the complaint, the SEC obtained a temporary restraining order and asset freeze against Ruiz, Carter Bain, and RAM to stop an allegedly ongoing fraudulent securities offering through which Ruiz and his entities allegedly misappropriated millions of dollars from investors. According to the SEC's complaint, filed in the United States District Court for the Southern District of New York on Aug. 6, 2021, and unsealed Aug.