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Silver Law Group Representing Investment Fraud Victims Of David Coggins And Coral Gables Asset Management

Silver Law Group represents an investor in potential claims against David Coggins and his Miami-based hedge fund Coral Gables Capital, LP, which Coggins manages through his company Coral Gables Asset Management, LLC. Over the past several years, Coggins has solicited investors for his purported hedge fund. Silver Law Group’s client alleges that the hedge fund was a fraud and that Coggins allegedly used the money for unauthorized purposes.Silver Law Group represents an investor in potential claims against David Coggins and his Miami-based hedge fund Coral Gables Capital, LP, which Coggins manages through his company Coral Gables Asset Management, LLC.

Over the past several years, Coggins has solicited investors for his purported hedge fund. Silver Law Group’s client alleges that the hedge fund was a fraud and that Coggins allegedly used the money for unauthorized purposes.

The allegations include that Coggins engaged in the following misconduct:

  • Coggins touted the fund’s performance using bogus marketing materials about the fund. The marketing materials described in detail the “investment strategy” Coggins would employ as well as past performance data about the fund.
  • To gain the investors’ trust and convince, Coggins created fake performance reports and fake independent audit reports that touted substantial returns and represented that Coggins was legitimately and successfully managing millions of dollars.
  • Coggins submitted false performance data to BarclayHedge, an investment research provider, which resulted in Coggins’ bogus hedge fund being awarded February 2020’s highest performing net return in the equity market neutral sector. Coggins used this award to further entice investors.

Victims Of Coggins’ Scheme Now Seek To Recover Their Investments

It is unknown whether victims will ever receive their funds back. Unfortunately, it appears that Coggins was able to convince victims to “invest” substantial money with him, but that Coggins used the money for other purposes.

Hedge Fund Fraud A Growing Concern

Hedge funds are complex investment vehicles that often employ complicated and sophisticated investment strategies that are difficult for main street investors to comprehend. Furthermore, hedge funds operate with minimal transparency, making it even more difficult for prospective investors to investigate and evaluate whether to invest. Thus, investing with a hedge funds requires substantial due diligence, due diligence can include information regarding the fund’s principals, past performance history, specific strategies and third party professionals offering services to the hedge fund.

For many years, Florida has been a hotbed for hedge fund fraud and other Ponzi schemes. Silver Law Group’s attorneys are experienced in representing victims of hedge fund fraud and related Ponzi schemes. In addition to representing victims of Coggins’ scheme, Silver Law Group is currently advocating for victims of the TCA hedge fund fraud, the Woodbridge real estate Ponzi scheme, and worked on behalf of victims of Scott Rothstein’s Ponzi scheme.

Did You Lose Money Investing With David Coggins Of Coral Gables Asset Management?

Before investing, it is important to ask questions, do diligent research, read recent reporting statements filed with the SEC or other regulators, and consult an expert if you are still unsure.

If you invested in Coggins’ hedge fund, contact Silver Law Group for a confidential consultation. Silver Law Group currently represents victims of this fraud and is continuing to investigate. We represent investors in securities and investment fraud cases nationwide to help recover investment losses due to stockbroker and fraudster misconduct and other investment-related wrongdoing. We work on a contingency fee basis, meaning you won’t pay us any legal fees unless we are successful. Call us toll free at (800) 975-4345 or email ssilver@silverlaw.com to get in touch.

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