{"id":4826,"date":"2017-12-28T16:56:52","date_gmt":"2017-12-28T22:56:52","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4769"},"modified":"2022-03-22T15:08:06","modified_gmt":"2022-03-22T20:08:06","slug":"multi-million-dollar-investment-adviser-fraud-cases-target-widows-older-investors-retail-investors","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/multi-million-dollar-investment-adviser-fraud-cases-target-widows-older-investors-retail-investors\/","title":{"rendered":"Multimillion-Dollar Investment Adviser Fraud Cases Target Widows, Older Investors, and Other Retail Investors"},"content":{"rendered":"<p>\t\t\t\t<strong>Two Investment Advisers Accused of $20M Investor Scam<\/strong><br \/>\nThe US Securities and Exchange Commission has filed civil charges against investment advisors Ronald A. Fossum and Alonzo Cahoon. They are accused defrauding retail investors in an <a href=\"https:\/\/www.stockbroker-fraud.com\">unregistered securities scam<\/a>. According to the regulator, from about 3\/2011 to 6\/2016, Fossum raised over $20M from more than 100 investors via securities offerings in investment funds under his control or ownership, including the:<\/p>\n<ul>\n<li>Accelerated Asset Group, LLC<\/li>\n<li>Turnkey Investment Fund, LLC<\/li>\n<li>Smart Money Secured Income Fund, LLC<\/li>\n<\/ul>\n<p>Fossum is accused of misappropriated hundreds of thousands of dollars of investors\u2019 money to pay his own expenses, including living in a home owned by one of the fund\u2019s free of rent. He also allegedly used investor funds to pay for international travel and federal taxes.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/multi-million-dollar-investment-adviser-fraud-cases-target-widows-older-investors-retail-investors\/#more-4826\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two Investment Advisers Accused of $20M Investor Scam The US Securities and Exchange Commission has filed civil charges against investment advisors Ronald A. Fossum and Alonzo Cahoon. They are accused defrauding retail investors in an unregistered securities scam. According to the regulator, from about 3\/2011 to 6\/2016, Fossum raised over $20M from more than 100 [&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":[3792,3772,3760,3741,3803],"tags":[],"class_list":["post-4826","post","type-post","status-publish","format-standard","hentry","category-ponzi-scams","category-private-placements","category-sec-enforcement","category-securities-fraud","category-senior-investors"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Multimillion-Dollar Investment Adviser Fraud Cases Target Widows, Older Investors, and Other Retail Investors &#8212; Investor Lawyers Blog &#8212; December 28, 2017<\/title>\n<meta name=\"description\" content=\"Two Investment Advisers Accused of $20M Investor Scam The US Securities and Exchange Commission has filed civil charges against investment advisors Ronald &#8212; December 28, 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\/multi-million-dollar-investment-adviser-fraud-cases-target-widows-older-investors-retail-investors\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Multimillion-Dollar Investment Adviser Fraud Cases Target Widows, Older Investors, and Other Retail Investors &#8212; Investor Lawyers Blog &#8212; December 28, 2017\" \/>\n<meta name=\"twitter:description\" content=\"Two Investment Advisers Accused of $20M Investor Scam The US Securities and Exchange Commission has filed civil charges against investment advisors Ronald &#8212; December 28, 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=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Multimillion-Dollar Investment Adviser Fraud Cases Target Widows, Older Investors, and Other Retail Investors &#8212; 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