SEC & Fraud Cases: Ponzi Scam Targeting Middle Class Investors is Stopped, NY-Based Forex Trader is Accused of Bilking Ex-Classmates, Family, and Friends, and NC Investment Adviser is Sued Over $11.5M Real Estate-Related Scheme

SEC Stops Ponzi Scam Involving Pre-IPO Stocks and Middle Class Investors
The U.S. Securities and Exchange Commission is charging Jaswant Gill and Javier Rios with fraud. The regulator claims that the two men and their investment firm, JSG Capital Investments, targeted middle-class investors through a Ponzi scam in which they touted purportedly huge returns through pro-IPO stock in renowned companies such as Airbnb, Alibaba, and Uber.

Gill and Rios are accused of pocketing at least $2.8M in investor money for their own lavish spending instead of investing the money in the pre-IPO shares. Funds of new investors were used to pay “returns” to earlier investors.

吉尔据称吹捧假凭据。他，里奥斯及其公司未在委员会或州监管机构注册。

The SEC said that in total the two investment advisers raised $10M through their company and related entities. They are said to have promised these retail investors access to investment opportunities that were typically only available to “one-percenters.” They also guaranteed yearly returns as high as 60%.

The U.S. Attorney’s Office for the Northern District of California has filed a parallel criminal case against Rios and Gill.

Trader Accused of Bilking Friends and Family of Millions of Dollars
The SEC is suing Haena Park for allegedly defrauding friends, her ex-Harvard classmates, family members, and other individuals of millions of dollars. Park is accused of using investor funds and making misrepresentations about her investment history, as well about the profits the investments were supposed to have made.

Since 2012, Park has raised at least $14M from over 30 investors, sustaining $16M in trading losses in the process.

Park invested people’s money in the futures and forex markets, losing badly. However, said the Commission, that did not stop her from telling investors they were making money and she sent them doctored account statements to make these fake profits seem real.

据称，帕克还通过使用新投资者的钱向早期投资者付款。

The U.S. Attorney’s Office for the Southern District of New York has brought a parallel criminal case against Park.

North Carolina-Based Financial Advisors Takes Money from Real Estate-Related Investments
总部位于北卡罗来纳州的投资顾问理查德·戴维斯（Richard W. Davis Jr.）被指控有投资者。据称，戴维斯从与房地产相关的投资中汇集了与他经营或拥有的公司的交易。

美国证券交易委员会（SEC）辩称，戴维斯（Davis）至少欺骗了85个人，他们共同投资了约1,150万美元。他向他们出售了DCG Real Assets LLC和DCG商业基金I LLC的利益，这是两种未注册的合并投资工具。

戴维斯告诉商业基金投资者，他们的资金将支付给房地产开发商的短期贷款，但据称没有告诉他们一半的项目涉及他的公司。投资者将继续亏损，因为贷款从未得到完全付款，但据称戴维斯没有告诉他们这一结果。

He is accused of not telling Real Assets investors that at least $7.7M of the $9.8M they gave him had been moved to his own entities. These funds were then spent or moved to other entities he ran or owned until all of the money was gone. Meantime, investors thought that their money was growing every year.

The Commission claims that Davis breached his fiduciary duty to investors, failed to disclose or fix conflicts of interest, issued misleading and false statements to investors, and did not tell them about their losses.

Read the Complaint in the Ponzi Scam involving JSG Capital Investments（PDF）

公园案中的SEC投诉（PDF）

戴维斯案（PDF）的SEC投诉