{"id":6843,"date":"2019-02-26T09:36:25","date_gmt":"2019-02-26T15:36:25","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=6843"},"modified":"2019-02-26T09:36:25","modified_gmt":"2019-02-26T15:36:25","slug":"investor-fraud-claims-include-kiddar-capital-and-stanford-ponzi-scam","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/investor-fraud-claims-include-kiddar-capital-and-stanford-ponzi-scam\/","title":{"rendered":"Investor Fraud Claims Include Kiddar Capital and Stanford Ponzi Scam"},"content":{"rendered":"

\t\t\t\t$20M Ponzi Scam Results in Guilty Plea for Kiddar Capital Founder<\/strong><\/p>\n

Todd Hitt, Kiddar Capital\u2019s founder and a member of a prominent commercial real estate family in Virginia, has pleaded guilty to criminal fraud charges accusing him of operating a $20M Ponzi fraud that involved several schemes. According to prosecutors, Hitt solicited about $30M from investors and then proceeded to use most of the money to fund his lavish lifestyle while using newer investors\u2019 funds to pay older investors. He also allegedly made \u201cfalse statements and material omissions\u201d to investors when he didn\u2019t tell them that their money was comingled with unrelated projects and not just the real estate and venture capital investments for which their funds were supposedly designated.<\/p>\n

The U.S. Attorney\u2019s Office for the Eastern District of Virginia<\/a> contends that because of Hitt\u2019s \u201cfraudulent conduct,\u201d investors lost about $20M. He is facing up to 20 years behind bars and is expected to pay a fine of millions of dollars. He previously settled related civil fraud charges filed against him by the US Securities and Exchange Commission<\/a>.<\/p>\n

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

$20M Ponzi Scam Results in Guilty Plea for Kiddar Capital Founder Todd Hitt, Kiddar Capital\u2019s founder and a member of a prominent commercial real estate family in Virginia, has pleaded guilty to criminal fraud charges accusing him of operating a $20M Ponzi fraud that involved several schemes. According to prosecutors, Hitt solicited about $30M from […]<\/p>\n","protected":false},"author":2,"featured_media":6622,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[4052,3781,3738,3957,3792,1],"tags":[3163,3299,3300,2535,3301],"class_list":["post-6843","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-institutional-investors","category-investment-advisers","category-investor-fraud","category-pension-funds","category-ponzi-scams","category-uncategorized","tag-kiddar-capital","tag-puma","tag-stanford-financial-group","tag-stanford-ponzi-scam","tag-todd-hitt"],"yoast_head":"\nInvestor Fraud Claims Include Kiddar Capital and Stanford Ponzi Scam — Investor Lawyers Blog — February 26, 2019<\/title>\n<meta name=\"description\" content=\"Investor Fraud Claims Include Kiddar Capital, Puma Biotech, and Stanford Ponzi Scam 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