뉴스 / investing

SEC Obtains Emergency Relief, Charges Investment Adviser and Its Principal with Operating $110 Million Ponzi Scheme

On Aug. 20, 2021, the Securities and Exchange Commission filed an emergency action to stop a fraudulent Ponzi scheme allegedly perpetrated by…

자료 보관함 · 2021-08-25

연구를 위한 과거 원문 발췌입니다. 수치, 규정 및 사건의 상태는 원래 발표 이후 달라졌을 수 있습니다.

Read original source

On Aug. 20, 2021, the Securities and Exchange Commission filed an emergency action to stop a fraudulent Ponzi scheme allegedly perpetrated by Marietta, Georgia resident John Woods and two entities he controls: registered investment adviser Livingston Group Asset Management Company, d/b/a Southport Capital (Southport), and investment fund Horizon Private Equity, III LLC (Horizon). On Aug. 24, 2021, the United States District Court for the Northern District of Georgia granted a temporary restraining order and asset freeze with respect to defendants Woods and Horizon and ordered expedited discovery with respect to Southport, among other relief. According to the SEC's complaint, filed in the United States District Court for the Northern District of Georgia, the defendants have raised more than $110 million from over 400 investors in 20 states by offering and selling membership units in Horizon.

Research sources & methodology

Original sources and publication references.

커뮤니티

Tell us what you are researching. We will review your request.