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Articles Posted in Ponzi Schemes

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The United States Attorney’s office for the Middle District of Florida has announced the arrest of Christopher Alexander Delgado for wire fraud and money laundering related Goliath Ventures, an alleged cryptocurrency Ponzi scheme. If convicted on both counts, Delgado faces a maximum penalty of 30 years in prison. Goliath Ventures Ponzi Scheme  Initially called Gen-Z Venture Firm, Delgado's company was later named Goliath Ventures. The company intended to entice investors to give the firm substantial amounts of money for an alleged "investment" in cryptocurrency "liquidity pools." Their website calls the company "a joint venture private fund that invested in blockchain and cryptocurrency projects." Goliath was also said to leverage "liquidity pools to facilitate passive income generation, enhance market efficiency, and provide qualified investors with access to innovative financial opportunities." The United States Attorney’s office for the Middle District of Florida has announced the arrest of Christopher Alexander Delgado for wire fraud and money laundering related Goliath Ventures, an alleged cryptocurrency Ponzi scheme. If convicted on both counts, Delgado faces a maximum penalty of 30 years in prison. Continue reading ›

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Silver Law Group is investigating claims on behalf of clients who lost money investing with Hedgehog Investments, a Utah-based company that raised millions of dollars from investors via promissory notes. Investors were promised their invested funds would be used to help growing companies obtain financing. In May 2025, the Utah Division of Securities issued an Emergency Order to Cease and Desist to Hedgehog Investments and various affiliated individuals and entities, including current and former Stronghold Capital Partners investment advisors Jason Stock, Jared Prazen, and Thiel Ruperto.Silver Law Group is investigating claims on behalf of clients who lost money investing with Hedgehog Investments, a Utah-based company that raised millions of dollars from investors via promissory notes. Investors were promised their invested funds would be used to help growing companies obtain financing. Continue reading ›

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Silver Law Group, along with co-counsel, filed a class action lawsuit against Jerry Hostetter, Buck Joffrey, Randall Leaman, and David Zook on behalf of investors to recover losses in what the Plaintiff alleges was a “$700,000,000 Ponzi scheme perpetrated by and through a series of investment funds, called the ‘Prestige Fund(s),’ together with Paramount Management Group, LLC.” The class action, filed in United States District Court for the Eastern District of Pennsylvania, alleges that the Defendants, along with Daryl Heller, served as executives for, managed, and raised capital for a Lancaster Pennsylvania-based company—Prestige—that, together with Paramount, claimed to manage a portfolio of approximately 38,000 ATMs when in fact the company owned/managed fewer than 10,000, leading to massive cash shortfalls.Silver Law Group, along with co-counsel, filed a class action lawsuit against Jerry Hostetter, Buck Joffrey, Randall Leaman, and David Zook on behalf of investors to recover losses in what the Plaintiff alleges was a “$700,000,000 Ponzi scheme perpetrated by and through a series of investment funds, called the ‘Prestige Fund(s),’ together with Paramount Management Group, LLC.” Continue reading ›

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The Securities and Exchange Commission (SEC) has charged Russell Todd Burkhalter, founder and CEO of Drive Planning, LLC, his Atlanta-based company. In their complaint, the SEC requested and received a preliminary injunction, asset freeze, and other emergency relief against both Burkhalter and Drive Planning to stop a Ponzi scheme worth $300 million that affected over 2,000 investors. A receiver has been appointed for Drive Planning. The complaint details that from 2020 through at least June of 2024, Burkhalter engaged in selling unregistered securities through Drive Planning. Called “Real Estate Acceleration Loans,” or REAL, they promised investors “bridge loan opportunity promising 10% in 3 months.”  More than 2,000 investors had over $300 million invested in REALs as of June 2024.The Securities and Exchange Commission (SEC) has charged Russell Todd Burkhalter, founder and CEO of Drive Planning, LLC, his Atlanta-based company. In their complaint, the SEC requested and received a preliminary injunction, asset freeze, and other emergency relief against both Burkhalter and Drive Planning to stop a Ponzi scheme worth $300 million that affected over 2,000 investors. A receiver has been appointed for Drive Planning. Continue reading ›

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Silver Law Group founder Scott Silver has spoken with multiple Harbor City investors who were allegedly defrauded by the company. In a recent article in Mother Jones, Mr. Silver said that George Santos and other employees should have noticed the red flags. “Any person from the financial services industry, who went to work for a company like Harbor City, should immediately have recognized that Harbor City wasn’t properly registered as a financial services company,” Mr. Silver said. “Even if you didn’t know the company was operating as a fraud or a Ponzi scheme, a sophisticated person affiliated with the company should have known they weren’t licensed to do what they claimed to be doing.”George Santos, the recently elected Latino Republican Representative from New York, continues to make headlines, but not for the right reasons. After a damning report in the New York Times questioning Santos’ claims and credibility, he has begun to speak on it. These reports with apologies about his fabricated background, which includes multiple false and unsubstantiated claims. Continue reading ›

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James Seijas (James Alan Seijas CRD# 2392901) is a former broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Short Hills, NJ. His former employers include TD Ameritrade, Inc. (CRD#:7870) of Morristown, NJ, Fidelity Brokerage Services LLC (CRD#:7784) of Wayne, NJ, and Barclays Capital Inc. (CRD#:19714) of New York, NY. He has been in the industry since 1997. Seijas worked for Wells Fargo Clearing Services from March of 2013 through March of 2019, when he voluntarily resigned. However, on March 24th, 2020, Wells Fargo filed an amendment to his Uniform Termination Notice For The Security Industry Registration Form, or Form U5. In the amended version, Wells Fargo revealed for the first time that Seijas had been named as a defendant in a lawsuit alleging that he was misrepresenting investments as part of a Ponzi scheme.James Seijas (James Alan Seijas CRD# 2392901) is a former broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Short Hills, NJ. His former employers include TD Ameritrade, Inc. (CRD#:7870) of Morristown, NJ, Fidelity Brokerage Services LLC (CRD#:7784) of Wayne, NJ, and Barclays Capital Inc. (CRD#:19714) of New York, NY. He has been in the industry since 1997. Continue reading ›

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Shawn Good (Shawn Edward Good CRD# 2022168) is a former registered broker and investment advisor whose last known employer was Morgan Stanley (CRD#: 149777) of Wilmington, NC. His previous employers were Wells Fargo Advisors, LLC (CRD#:19616), also of Wilmington, and Charles Schwab & Co., Inc. (CRD#:5393) of San Francisco, CA. He has been in the industry since 1990. Good has five disclosures on his record, three of which are customer disputes. The first was filed on 4/13/2022, alleging that from August 2019 to February 2022, he misappropriated funds from the customers’ Liquidity Access Line accounts. The clients request damages of $2,275,000.00; this claim is pending. The latest claim was filed on 4/30/2022, with allegations that Good “misappropriated funds by soliciting an outside real estate investment opportunity” from 2015 through 2018. No damages are listed but this claim is also listed as pending.Shawn Good (Shawn Edward Good CRD# 2022168) is a former registered broker and investment advisor whose last known employer was Morgan Stanley (CRD#: 149777) of Wilmington, NC. His previous employers were Wells Fargo Advisors, LLC (CRD#:19616), also of Wilmington, and Charles Schwab & Co., Inc. (CRD#:5393) of San Francisco, CA. He has been in the industry since 1990. Continue reading ›

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