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Schwartz v. McGregor was filed in the District Court of Denver County, Colorado on January 10, 2022, seeking relief under Colorado’s Uniform Fraudulent Transfer Act, C.R.S. § 38-8-101-112 (“CUFTA”), including a turnover and accounting and damages for actual and constructive fraud.

Plaintiff Gary Schwartz is a court-appointed Receiver (“Receiver”) on behalf of a multi-million-dollar fraudulent investment scheme perpetrated by Mark Ray (“Ray”).  The Receiver was appointed over Mark Ray, Custom Consulting & Product Services, LLC, MR Cattle Production Services, LLC, Universal Herbs, LLC, DBC Limited, LLC, RM Farm & Livestock, LLC, Sunshine Enterprises (the “Estate entities”). Defendant Eric McGregor (“Defendant”) was an investor in the Ponzi scheme who allegedly received numerous avoidable transfers from the Estate entities.…

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Freitag, as Receiver for ANI Development LLC v. Dean Libs, et al. was filed in the Southern District of California on January 25, 2022, asserting one claim for fraudulent transfer.

Plaintiff is the court-appointed permeant receiver for ANI Development LLC (“ANI Development”), American National Investments, Inc., and their subsidiaries and affiliates (“Receivership Entities”) in an action titled SEC v. Gina Champion-Cain, et al., Case No. 3:19-cv-01628-LAB-AHG (“SEC Action”).  Plaintiff was appointed Receiver in the SEC Action and was vested with exclusive authority and control over the assets of the Receivership Entities, as well as investigatory powers.  This action is against Defendant Dean Libs, in his individual capacity, and Defendant Dean Libs Inc., a California corporation.…

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Heinen v. iDigrati, LLC, et al. was filed in the Superior Court of Gwinnett County, Georgia on December 16, 2021, claiming civil damages for breach of contract and state securities violations in connection with purported investments in promissory notes sold by Defendants.

Plaintiff is an individual who invested $200,000 with Defendant in exchange for a promissory note. Defendants are the investment company, iDigrati, LLC (“iDigrati”) and its two operating individuals, Narendra Patel and Bruce Rowland.  Rowland is deceased and is represented by his estate in this action.…

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Two related cases, Bradley D. Sharp v. Shinhan Bank Co., Ltd. (the “Shinhan Action”) and Sharp v. Daishin Securities Co., Ltd. (the “Daishin Action”), were filed in the United States District Court for the Central District of California on November 23, 2021 by the receivers for various businesses under the Direct Lending Investments, LLC umbrella of companies (“Direct Lending”).  Both actions allege that certain redemptions paid out to investors in a fraudulent investment scheme constitute constructive and actual fraudulent transfers under California’s Uniform Voidable Transactions Act, regardless of the investors’ knowledge of the underlying fraud.

Plaintiffs in both actions are receivers (the “Receivers”) appointed in the underlying SEC enforcement action against an investment manager entity that was used to carry out a fraudulent investment scheme (the “Receivership Entity”). Defendants in the Shinhan Action are investment funds (the “Defendant Funds”) that invested in the scheme, trustees (the “Defendant Trustees”) that entered into subscription agreements with the Receivership Entity on the Defendant Fund’s behalf, and fund managers (the “Defendant Managers,”) that sold the funds to investors.   Defendant in the Daishin Action is a South Korean investment company that invested in the scheme.…

Continue Reading New Complaints – Sharp v. Shinhan Bank Co., et al. & Sharp v. Daishin Securities Co., Ltd.

Geoff Winkler, as Receiver for Profit Connect Wealth Services, Inc. v. William Roshak, et al.  was filed in the United States District Court for the District of Nevada on November 4, 2021 asserting claims for (1) fraudulent transfer; (2) unjust enrichment; (3) declaratory relief; and (4) attorneys’ fees and costs.

Plaintiff is the court-appointed receiver of Profit Connect Wealth Services, Inc. (“Profit Connect”) in an action titled Securities and Exchange Commission v. Profit Connect Wealth Services, Inc., et al., Case No. 21-cv-01298-JAD-BNW (D. Nev.) (the “SEC Action”). Plaintiff was appointed as the Receiver in that matter and granted broad authority to investigate claims and institute actions and legal proceedings on behalf of Profit Connect and its investors. This action is against Defendants William Roshak in his individual capacity and d/b/a/ William George Photography, Melissa Roshak, Tetiana Luzhanska, and Tina M. Leiss, in her sole capacity as the executive officer of the Public Employees’ Retirement System of Nevada (“PERS”).…

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Securities and Exchange Commission v. Swapnil J. Rege and SwapStar Capital, LLC was filed in the U.S. District Court for the District of New Jersey on October 26, 2021, claiming the defendants violated the Investment Advisors Act by engaging in fraudulent or deceptive conduct upon an advisory client and charging Rege with violating a 2019 SEC Order barring him from associating with an investment adviser.
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Christian Fiene and Erik Kiser v. Matthew Schweinzger was filed in the Northern District of Illinois on October 27, 2021, seeking damages of more than $500,000 for state statutory and common law claims related to the Defendant’s role in a Ponzi scheme orchestrated by Zachery Horwitz and his company, 1inMM Capital, LLC (the “Horwitz Scheme”).

The Horwitz Scheme defrauded investors by representing that proceeds from each promissory note placed in 1inMM’s offering were going to be used to purchase the rights of particular movies, which would then be licensed to major streaming services such as HBO and Netflix.  However, Horwitz and 1inMM had no relationship with HBO or Netflix and had no plans to license any movie rights to those companies.

Plaintiffs Fiene and Kiser are two individuals who were duped into investing into the Horwitz Scheme.  Defendant Schweinzger, the Plaintiffs’ former college classmate, is a principal of JJMT Capital, LLC (“JJMT”), which Plaintiffs allege was created for the sole purpose of selling promissory notes to fund the Horwitz Scheme’s fake film licensing deals.  JJMT was paid 15% commission on each investment.…

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Securities and Exchange Commission v. BNZ One Capital, LLC, et al. was filed in the United States District Court for the Central District of California on October 28, 2021 claiming Defendants violated the antifraud provisions of the Securities Act,  the Securities Exchange Act,  and Rule 10b-5 thereunder, as well as the registration provisions of the Securities Act. The SEC also brings claims against individual Defendants Barber and Zimmerle for violations of the broker-dealer registration provisions of the Exchange Act and accuses them of being secondarily liable for BNZ’s fraud as control persons pursuant to the Exchange Act.
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Marfleet v. Hardin, et al. was filed in the Western District of Tennessee on October 20, 2021. The complaint alleges Defendants operated a nationwide real estate Ponzi scheme that defrauded investors by falsely promising “secured” real estate investments and above-market rates of return in exchange for capital.

Plaintiff Barry Marfleet (“Plaintiff”) is an individual investor. Defendants are James Hardin and his two companies, Defendant Hardin Enterprises Inc. and Defendant MRH Holdings, LLC, (collectively “Defendants”).…

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