Este post proviene de esta fuente de noticias

The Securities and Exchange Commission today announced charges against Matthew J. Skinner of Santa Clarita, California, and five entities he owns and controls – Empire West Equity Inc., Bayside Equity LP, Longacre Estates LP, Freedom Equity Fund LLC, and Simple Growth LLC – for conducting four unregistered and fraudulent real estate investment offerings between 2015 and 2020, through which he raised more than $9 million from over 100 investors. 

The SEC’s complaint alleges that Skinner, who touted himself to investors as a successful real estate investor and dealmaker, made multiple misrepresentations to investors and misappropriated millions of dollars of investor funds.  The SEC contends that Skinner told investors their money would be used to finance specific real estate projects or investments, projecting and, in some cases, guaranteeing double-digit annual returns.  The SEC alleges that instead Skinner spent substantial amounts of investor funds on his personal expenses, including European vacations and payments for a Maserati and an Aston Martin.  The SEC also alleges that Skinner used investor money to pay operational and marketing expenses unrelated to the specific projects, and to make Ponzi-like payments to other investors.  According to the SEC’s complaint, Skinner owes investors millions of dollars, and he falsely blamed the COVID-19 pandemic for his failure to pay them, telling investors their money was safe when in fact he had spent it all.  The SEC alleges that Skinner used these false statements to pressure certain investors to extend their investment terms.