Stoltmann Law Offices is investigating Richard Clatfelter, a former investment advisor with Horter Investment Management in Chandler and Mesa, Arizona. Mr. Clatfelter, along with Chad Deucher and Marquis Properties, allegedly ran a ponzi scheme. In December 2016, the Securities and Exchange Commission (SEC) barred Clatfelter from the securities industry after a judgment was entered against him in the District of Utah. Clatfelter and Deucher operated Marquis Properties, which allegedly rehabilitated real properties and make a profit. They marketed Marquis as being safe and low risk. In reality, the properties were not owned by Marquis, and money was used to pay for personal expenses or to pay back purported “returns” to other investors, in a ponzi scheme style. The SEC claimed that over $28 million was taken from 250 investors. The scheme began in 2010.
According to Mr. Clatfelter’s Investment Adviser Public Disclosure report, he was registered with Redhawk Wealth Advisors in Chandler, Arizona from October 2008 until November 2009, Horter Investment Management in Chandler from December 2009 until July 2011 and Horter Investment Management in Mesa, Arizona from October 2011 until December 2011. He has one regulatory event against him, one civil event against him and two judgment/liens. If you or anyone you know suffered losses with Mr. Clatfelter, please call our securities law offices today to speak to one of our attorneys. The call is free with no obligation. We take cases on a contingency fee basis, so we do not get paid unless you recover money.