Stoltmann Law Offices represents victims of investment fraud where financial advisors have robbed their clients through Ponzi schemes, often targeting vulnerable communities. The U.S. Securities and Exchange Commission (SEC) has charged Miami-Dade County resident Judith Paris-Pinder, alleging that she ”fraudulently raised approximately $2.3 million from over 280 investors through an unregistered securities offering, targeting members of the Haitian and Haitian-American community in South Florida and elsewhere.”
The SEC’s complaint alleges that from 2019 to 2021, “Pinder offered loan agreements to investors promising returns of up to 50%, within 30 to 90 days. As alleged, Pinder made statements to investors claiming the investment was safe and that investor funds would be used to make advance loans to personal injury clients of a prominent Miami-based attorney. In fact, as the SEC alleges, Pinder, misappropriated investor funds and used investor funds to make Ponzi-like distributions to investors.”
The SEC’s complaint also charges Pinder with violating the antifraud provisions of Section 17(a) of the Securities Act and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5. The SEC “seeks permanent injunctive relief, an officer-and-director bar, disgorgement of allegedly ill-gotten gains plus prejudgment interest, and civil penalties against Pinder.