{"id":4202,"date":"2017-02-17T18:58:27","date_gmt":"2017-02-18T00:58:27","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4202"},"modified":"2017-02-17T18:58:27","modified_gmt":"2017-02-18T00:58:27","slug":"sec-cases-man-claimed-real-estate-manager-pay-500k-fuel-cell-company-executives-face-criminal-civil-charges-investor-fraud","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-cases-man-claimed-real-estate-manager-pay-500k-fuel-cell-company-executives-face-criminal-civil-charges-investor-fraud\/","title":{"rendered":"SEC Cases: Man Who Claimed to Be Real Estate Manager to Pay over $500K and Fuel Cell Company Executives Face Criminal and Civil Charges Over Investor Fraud"},"content":{"rendered":"

\t\t\t\tArizona Man to Pay $500K To Settle SEC Fraud Charges<\/strong>
\nJames P. Toner will pay over $500K to settle charges accusing him of taking investors\u2019 money. The Arizona man claimed to be a real estate manager and allegedly told investors that he would be personally managing three real estate ventures in which they were buying interests. The stated purpose of every investor\u2019s offering was to buy a residential property in the Phoenix area. The property was to be renovated and then sold at a profit. <\/p>\n

According to the SEC\u2019s securities fraud <\/a>complaint, Toner raised at least $915K from 18 investors from mid-\u201913 through \u201914. The investors lost about $682K. Toner is accused of misappropriating about $51K of investor money that he purportedly tried to hide through bank account transfers. (The regulator\u2019s complaint stated that Toner was paid $31K in undisclosed management fees even though he never actually managed the offerings, and that he flat-out stole $20K from an investor.)<\/p>\n

Toner also purportedly did not perform any due diligence when he entrusted a real estate broker to manage the investments. This broker was later sent to jail for other crimes.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Arizona Man to Pay $500K To Settle SEC Fraud Charges James P. Toner will pay over $500K to settle charges accusing him of taking investors\u2019 money. The Arizona man claimed to be a real estate manager and allegedly told investors that he would be personally managing three real estate ventures in which they were buying […]<\/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":[3738,3801,3760],"tags":[],"class_list":["post-4202","post","type-post","status-publish","format-standard","hentry","category-investor-fraud","category-sec","category-sec-enforcement"],"yoast_head":"\nSEC Cases: Man Who Claimed to Be Real Estate Manager to Pay over $500K and Fuel Cell Company Executives Face Criminal and Civil Charges Over Investor Fraud — Investor Lawyers Blog — February 17, 2017<\/title>\n<meta name=\"description\" content=\"Arizona Man to Pay $500K To Settle SEC Fraud Charges James P. 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