{"id":3890,"date":"2016-11-01T09:26:17","date_gmt":"2016-11-01T14:26:17","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/?p=3890"},"modified":"2022-03-28T10:36:16","modified_gmt":"2022-03-28T15:36:16","slug":"massachusetts-regulator-charges-ex-investment-adviser-500k-ponzi-scam","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/massachusetts-regulator-charges-ex-investment-adviser-500k-ponzi-scam\/","title":{"rendered":"Massachusetts Regulator Charges Ex-Investment Adviser Over $500K Ponzi Scam"},"content":{"rendered":"

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The Secretary of the Commonwealth of Massachusetts has charged Stephen S. Eubanks over his alleged involvement in a Ponzi scam<\/a>. According to state securities regulator William F. Galvin, the former investment adviser took at least $529K from 15 investors, including neighbors, friends, and their families. Four of the investors were Massachusetts investors who gave $195K of the funds.<\/div>\n
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According to the state\u2019s complaint, in 2011, Eubanks allegedly pretended he was a successful hedge fund manager who ran Eubiquity Capital LLC. He solicited investors to get them to invest their money in options, stocks, and other securities. However, instead of investing their funds, he allegedly used $145K for his own expenses, including trips to Martha\u2019s Vineyard and to cover boat costs, and $140K to pay back earlier investors.<\/div>\n
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Galvin\u2019s notice said that Eubanks lost all of the investors\u2019 money. Many of the investors were close friends of Eubanks, including an ex- college roommate and the older father of a former fraternity brother. He befriended the other investors online.<\/div>\n
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Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

  The Secretary of the Commonwealth of Massachusetts has charged Stephen S. Eubanks over his alleged involvement in a Ponzi scam. According to state securities regulator William F. Galvin, the former investment adviser took at least $529K from 15 investors, including neighbors, friends, and their families. Four of the investors were Massachusetts investors who gave […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3792],"tags":[],"class_list":["post-3890","post","type-post","status-publish","format-standard","hentry","category-ponzi-scams"],"yoast_head":"\nMassachusetts Regulator Charges Ex-Investment Adviser Over $500K Ponzi Scam — Investor Lawyers Blog — November 1, 2016<\/title>\n<meta name=\"description\" content=\"  The Secretary of the Commonwealth of Massachusetts has charged Stephen S. 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