{"id":4623,"date":"2008-06-19T19:12:08","date_gmt":"2008-06-19T19:12:08","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2008\/06\/lincoln_funds_international_in"},"modified":"2022-03-29T15:13:48","modified_gmt":"2022-03-29T20:13:48","slug":"lincoln-funds-international-in","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/lincoln-funds-international-in\/","title":{"rendered":"Lincoln Funds International Inc. and Its Principals Issued Restraining Order Following Alleged $21 Million Biotech Scam"},"content":{"rendered":"

The U.S. District Court for the Central District of California has slapped Lincoln Funds International Inc with a temporary restraining order and told the advisory firm to temporarily freeze its assets. Judge Cormac J. Carney also appointed a temporary receiver over the assets, as well as the assets of three Lincoln Biotech Venture funds and Brookstone Capital, which is Lincoln Fund’s predecessor company.<\/p>\n

Lincoln Funds, along with its three principals, are accused of engaging in a biotechnology investment fraud scam<\/a>, raising over $21.8 million from hundreds of investors. According to the SEC, Robert L. Carver, his son Robert L. Carver II, and James L. DeMer sold securities in Lincoln Funds, the three biotech funds, and Brookstone Capital while making “baseless predictions” and promising that there would be initial public offerings at the two companies.<\/p>\n

The Commission charges that the defendants took part in “sham transactions” to make it appear as if Lincoln Funds was not associated with Brookstone or Carver because both had been subject to state regulatory orders. It is also accusing the defendants of misappropriating and misusing at least $2.5 million in investor funds, defrauding the partnerships as a result.<\/p>\n

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

The U.S. District Court for the Central District of California has slapped Lincoln Funds International Inc with a temporary restraining order and told the advisory firm to temporarily freeze its assets. Judge Cormac J. Carney also appointed a temporary receiver over the assets, as well as the assets of three Lincoln Biotech Venture funds and […]<\/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],"tags":[],"class_list":["post-4623","post","type-post","status-publish","format-standard","hentry","category-investor-fraud"],"yoast_head":"\nLincoln Funds International Inc. and Its Principals Issued Restraining Order Following Alleged $21 Million Biotech Scam — Investor Lawyers Blog — June 19, 2008<\/title>\n<meta name=\"description\" content=\"The U.S. District Court for the Central District of California has slapped Lincoln Funds International Inc with a temporary restraining order and told the — June 19, 2008\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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