SEC Obtains Judgment Against Promoter Who Fraudulently Raised $3 Million for Christian Concerts

The Securities and Exchange Commission has obtained a final judgment against Christian concert promoter Jeffrey E. Wall, of Freeport, Maine, and his business, The Lighthouse Events LLC. The Commission charged Wall and Lighthouse in April 2019 with operating an egregious community-based financial fraud related to Christian music concerts and festivals. The judgment finds Wall and Lighthouse liable for fraudulently raising more than $3 million in unregistered offerings from approximately 145 investors, many of whom shared Wall’s religious views. Wall had promised investors that their funds would be used solely to promote and host Christian music concerts and festivals and that their investments were “secured” and “guaranteed.” In reality, Wall and Lighthouse used investor funds for a variety of other expenses, including payment of Lighthouse’s existing debt and payments to earlier investors.