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SEC Charges Yet Another Scamster

The U.S. Securities and Exchange Commission (SEC) has charged David William Thomas of Global Marketing Consultants, LLC with misappropriating investor funds through two different fraudulent investment schemes.  According to the SEC, the defendants raised approximately $6.3 million from over 140 investors, with roughly one-third of the investors being seniors.  According to the SEC’s press release: 
Thomas [...]

The U.S. Securities and Exchange Commission (SEC) has charged David William Thomas of Global Marketing Consultants, LLC with misappropriating investor funds through two different fraudulent investment schemes.  According to the SEC, the defendants raised approximately $6.3 million from over 140 investors, with roughly one-third of the investors being seniors.  According to the SEC’s press release: 

Thomas and GMC represented that investor funds would be pooled into “non-depleting custodial” bank accounts and would be used only as collateral to fund a high-speed internet business and a global positioning system business. The complaint also alleges that Thomas and GMC represented that the investments were fully insured and would generate a “high rate of return.” 

The SEC alleges that all of the defendant’s statements were false and misleading, and the actual plan was to use the investor’s money for a prime bank scam.  If you’re a senior citizen or a baby boomer, beware of cleverly crafted and highly manipulative investment schemes.  Before investing a dime of your life savings, investigate through a former SEC Enforcement Branch Chief.

 

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