{"id":4815,"date":"2017-11-25T19:28:37","date_gmt":"2017-11-26T01:28:37","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4787"},"modified":"2017-11-25T19:28:37","modified_gmt":"2017-11-26T01:28:37","slug":"sec-cases-15-7m-final-judgment-issued-ponzi-scam-touted-loans-athletes-microcap-issuer-accused-accounting-scheme-companys-assets-frozen-wake-alleged-5","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-cases-15-7m-final-judgment-issued-ponzi-scam-touted-loans-athletes-microcap-issuer-accused-accounting-scheme-companys-assets-frozen-wake-alleged-5\/","title":{"rendered":"SEC Cases: $15.7M Final Judgment Issued in Ponzi Scam that Touted Loans to Athletes, MicroCap Issuer is Accused of Accounting Scheme, and Company\u2019s Assets are Frozen in the Wake of Alleged $5.3M Offering Fraud"},"content":{"rendered":"<p>\t\t\t\t<strong>Regulator Orders Alleged Ponzi Scammers to Pay $15.7M Plus Interest<\/strong><br \/>\nIn its final judgement against ex-pro football player William D. Allen, Susan Daub, and three entities, the US Securities and Exchange Commission is ordering the defendants to pay over $15.7M in disgorgement of ill-gotten gains in addition to prejudgment interest for an <a href=\"https:\/\/www.stockbroker-fraud.com\" rel=\"noopener noreferrer\" target=\"_blank\">alleged Ponzi scam <\/a>that raised nearly $32M from investors. Allen, formerly of the Miami Dolphins, and Daub, who both pled guilty to related to criminal charges last year, have been sentenced to six years in prison. They must pay $16.8M in restitution for that action. The SEC\u2019s order will be deemed met \u201cbased on the restitution order\u201d  in the criminal case.<\/p>\n<p>The SEC\u2019s complaint contends that Daub and Allen and the entities misled investors about the loans, which were supposed to go to professional athletes. Instead, they allegedly used just part of the money to issue the loans while using investors\u2019 funds to cover nightclub and casino expenses, other ventures, and to pay back other investors.<\/p>\n<p><strong>Microcap Issuer and Its Ex-CEO Resolve Investor Fraud Allegations<\/strong><br \/>\nIntegrated Freight Corporation and its ex-chairman\/CEO David N. Fuselier have settled SEC charges accusing them of <a href=\"https:\/\/www.stockbroker-fraud.com\" rel=\"noopener noreferrer\" target=\"_blank\">investor fraud<\/a>. Both Fuselier and the company, however, did not deny or admit to the allegations.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/sec-cases-15-7m-final-judgment-issued-ponzi-scam-touted-loans-athletes-microcap-issuer-accused-accounting-scheme-companys-assets-frozen-wake-alleged-5\/#more-4815\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Regulator Orders Alleged Ponzi Scammers to Pay $15.7M Plus Interest In its final judgement against ex-pro football player William D. Allen, Susan Daub, and three entities, the US Securities and Exchange Commission is ordering the defendants to pay over $15.7M in disgorgement of ill-gotten gains in addition to prejudgment interest for an alleged Ponzi scam [&hellip;]<\/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":[3781,3738,3792,3801,3760,3741],"tags":[],"class_list":["post-4815","post","type-post","status-publish","format-standard","hentry","category-investment-advisers","category-investor-fraud","category-ponzi-scams","category-sec","category-sec-enforcement","category-securities-fraud"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEC Cases: $15.7M Final Judgment Issued in Ponzi Scam that Touted Loans to Athletes, MicroCap Issuer is Accused of Accounting Scheme, and Company\u2019s Assets are Frozen in the Wake of Alleged $5.3M Offering Fraud &#8212; Investor Lawyers Blog &#8212; November 25, 2017<\/title>\n<meta name=\"description\" content=\"Regulator Orders Alleged Ponzi Scammers to Pay $15.7M Plus Interest In its final judgement against ex-pro football player William D. Allen, Susan Daub, &#8212; November 25, 2017\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/sec-cases-15-7m-final-judgment-issued-ponzi-scam-touted-loans-athletes-microcap-issuer-accused-accounting-scheme-companys-assets-frozen-wake-alleged-5\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SEC Cases: $15.7M Final Judgment Issued in Ponzi Scam that Touted Loans to Athletes, MicroCap Issuer is Accused of Accounting Scheme, and Company\u2019s Assets are Frozen in the Wake of Alleged $5.3M Offering Fraud &#8212; Investor Lawyers Blog &#8212; November 25, 2017\" \/>\n<meta name=\"twitter:description\" content=\"Regulator Orders Alleged Ponzi Scammers to Pay $15.7M Plus Interest In its final judgement against ex-pro football player William D. Allen, Susan Daub, &#8212; November 25, 2017\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEC Cases: $15.7M Final Judgment Issued in Ponzi Scam that Touted Loans to Athletes, MicroCap Issuer is Accused of Accounting Scheme, and Company\u2019s Assets are Frozen in the Wake of Alleged $5.3M Offering Fraud &#8212; Investor Lawyers Blog &#8212; November 25, 2017","description":"Regulator Orders Alleged Ponzi Scammers to Pay $15.7M Plus Interest In its final judgement against ex-pro football player William D. Allen, Susan Daub, &#8212; November 25, 2017","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/sec-cases-15-7m-final-judgment-issued-ponzi-scam-touted-loans-athletes-microcap-issuer-accused-accounting-scheme-companys-assets-frozen-wake-alleged-5\/","twitter_card":"summary_large_image","twitter_title":"SEC Cases: $15.7M Final Judgment Issued in Ponzi Scam that Touted Loans to Athletes, MicroCap Issuer is Accused of Accounting Scheme, and Company\u2019s Assets are Frozen in the Wake of Alleged $5.3M Offering Fraud &#8212; Investor Lawyers Blog &#8212; November 25, 2017","twitter_description":"Regulator Orders Alleged Ponzi Scammers to Pay $15.7M Plus Interest In its final judgement against ex-pro football player William D. Allen, Susan Daub, &#8212; November 25, 2017","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/sec-cases-15-7m-final-judgment-issued-ponzi-scam-touted-loans-athletes-microcap-issuer-accused-accounting-scheme-companys-assets-frozen-wake-alleged-5\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/sec-cases-15-7m-final-judgment-issued-ponzi-scam-touted-loans-athletes-microcap-issuer-accused-accounting-scheme-companys-assets-frozen-wake-alleged-5\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"SEC Cases: $15.7M Final Judgment Issued in Ponzi Scam that Touted Loans to Athletes, MicroCap Issuer is Accused of Accounting Scheme, and Company\u2019s Assets are Frozen in the Wake of Alleged $5.3M Offering Fraud","datePublished":"2017-11-26T01:28:37+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/sec-cases-15-7m-final-judgment-issued-ponzi-scam-touted-loans-athletes-microcap-issuer-accused-accounting-scheme-companys-assets-frozen-wake-alleged-5\/"},"wordCount":767,"articleSection":["Investment Advisers","Investor Fraud","Ponzi Scams","SEC","SEC Enforcement","Securities Fraud"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/sec-cases-15-7m-final-judgment-issued-ponzi-scam-touted-loans-athletes-microcap-issuer-accused-accounting-scheme-companys-assets-frozen-wake-alleged-5\/","url":"https:\/\/www.investorlawyers.com\/blog\/sec-cases-15-7m-final-judgment-issued-ponzi-scam-touted-loans-athletes-microcap-issuer-accused-accounting-scheme-companys-assets-frozen-wake-alleged-5\/","name":"SEC Cases: $15.7M Final Judgment Issued in Ponzi Scam that Touted Loans to Athletes, MicroCap Issuer is Accused of Accounting Scheme, and Company\u2019s Assets are Frozen in the Wake of Alleged $5.3M Offering Fraud &#8212; Investor Lawyers Blog &#8212; November 25, 2017","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2017-11-26T01:28:37+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"Regulator Orders Alleged Ponzi Scammers to Pay $15.7M Plus Interest In its final judgement against ex-pro football player William D. 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