SSEK Investigate Investment Fraud Claims Made Against 1 Global Capital
If you are someone who invested in 1 Global Capital notes at the recommendation of your broker or financial advisor, you may have grounds for filing an investment fraud claim. 1 Global is accused of operating a $322M scam and defrauding at least 3,600 investors including older investors who lost their retirement funds as a result.
Contact Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) today so we can determine whether you have grounds for a broker fraud case to help you recover your money.
1 Global Capital was a cash advance company based in Florida. It is accused of fraudulently raising funds with unregistered securities through a network of not only registered brokers and advisors but also brokers who’d already been barred from the industry.
In the US Securities and Exchange Commission’s (SEC) civil case against Global 1 and its ex-CEO Carl Ruderman, the regulator contends that investors were told they would make money from the company’s loans to different companies. Instead, most of the money allegedly went to supporting Ruderman’s “lavish” lifestyle and other companies with no connection to 1 Global and newer investors’ money was to pay earlier investors in Ponzi-like fashion.
Ruderman has since been ordered to pay a $15M penalty, $32M in disgorgement, $750K in cash and half of his $2.7M condominium in the SEC’s case against him. 1 Global Capital, meanwhile, filed for bankruptcy protection last year.
Another 1 Global Executive, former CFO Alan Heide, also recently settled SEC charges related to the $322M 1 Global Capital fraud. He is accused of not just raising the funds from investors, but also of using their money to cover operating costs and signing investors’ statements while knowing the figures in them were overstated.
Heide pleaded guilty in a parallel criminal fraud case.
1 Global Capital Fraud Claims
Just because 1 Global is no longer in operation and has sought bankruptcy protection doesn’t mean that investors who were harmed can’t pursue a broker fraud case to recover their losses.
Our investment fraud attorneys at SSEK Firm work hard every day to pursue the broker-dealers and their representatives and advisors that sold fraudulent investments to their customers. Over the years, we have helped thousands of investors to get their money back. Your first consultation with our investor lawyers is a free, no-obligation case assessment.