SEC Obtains Emergency Relief, Charges Florida Company and CEO with Misappropriating Investor Money and Operating a Ponzi Scheme

The Securities and Exchange Commission today announced that it filed an emergency action and obtained a temporary restraining order and an asset freeze to stop an alleged Ponzi scheme and misappropriation of investor proceeds perpetrated by Melbourne, Florida resident Jonathan P. Maroney through several entities he controls. According to the SEC's complaint, which was filed in federal court in the Middle District of Florida, since about May 2015, Maroney and his companies raised at least $17.1 million from more than 100 investors in a series of fraudulent securities offerings. The complaint alleges that Maroney, his company Harbor City Capital Corp., and his various other entities told investors that offering proceeds would be used to finance the defendants' online "customer lead generation campaigns," and promised investors annual returns ranging from 10% to 60% from the resale of those leads to other businesses.