The US Securities and Exchange Commission is accusing John S. Jumper, a Tennessee businessman and ex-broker, of stealing about $5.7M from the pension plan of Snow Shoe Refractories, LLC, a Pennsylvania company. Now, the commission wants disgorgement of ill-gotten gains with interest, injunctive relief, and penalties.
According to the regulator’s complaint, three times, between 3/2015 and 2/2016, Jumper stole money from the Snow Shoe Refractories, LLC Pension Plan for Hourly Employees by forging documents that supposedly showed he had authority over the fund’s money. He then allegedly used the funds to “capitalize” several businesses to which he had some ties, including, in some cases, ownership. These companies, Alluvion Securities, Speedee Brakes, American Investment Funds II, Thousand Hills Capital, and Evertone Records, have been named relief defendants in the SEC’s pension plan fraud case. The regulator contends that they have no “legitimate claim” on the pension fund’s monies.
Jumper previously worked as a registered representative at a number of brokerage firms for almost two decades. He was the CEO, owner, and registered representative of Alluvion Securities. He also was an investment adviser and President of Alluvion Investments.