{"id":3087,"date":"2014-05-28T00:00:00","date_gmt":"2014-05-28T04:00:00","guid":{"rendered":"http:\/\/silverlaw.lawblogger.net\/blog\/sec-charges-investment-advisor-with-improperly-raising-funds-for-ponzi-scheme\/"},"modified":"2017-12-22T14:28:31","modified_gmt":"2017-12-22T19:28:31","slug":"sec-charges-investment-advisor-with-improperly-raising-funds-for-ponzi-scheme","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/sec-charges-investment-advisor-with-improperly-raising-funds-for-ponzi-scheme\/","title":{"rendered":"SEC Charges Investment Advisor with Improperly Raising Funds for Ponzi Scheme"},"content":{"rendered":"<\/p>\n

The U.S. Securities and Exchange Commission (\u201cSEC\u201d) continued its onslaught against Scott Rothstein associates earlier this month when it filed suit in federal court against Barry R. Bekkedam (\u201cBekkedam\u201d), Chairman and Chief Executive Officer of investment advisory firm Ballamor Capital Management (\u201cBallamor\u201d).\u00a0 The SEC suit follows a growing number of SEC actions against individuals and corporations accused of providing investor funds and assistance to convicted South Florida Ponzi-schemer Scott Rothstein.<\/p>\n

The SEC alleges that Bekkedam, through Ballamor, solicited his clients and other prospective investors to invest $100 million into the Banyon Income Fund (\u201cBanyon Fund\u2019\u201d), an enormous hedge fund that primarily financed Rothstein\u2019s Ponzi-scheme<\/a> operations.\u00a0 The Banyon Fund was created by Bekkedam and Rothstein investor George Levin to solicit additional funds for Rothstein and, the SEC alleges, bolster Ballamor\u2019s business and protect Levin\u2019s multi-million dollar investments with Rothstein.<\/p>\n

In seeking disgorgement and civil penalties against Bekkedam, the SEC details allegations of Bekkedam\u2019s material misstatements and omissions<\/a> to his customers in connection with the Banyon Fund, as well as misrepresentations<\/a> about his dealings with George Levin, which the SEC alleges were quid pro quo<\/em> for Bekkedam\u2019s securing investments in the Banyon Fund.\u00a0 The SEC also alleges numerous securities law violations.<\/p>\n

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

The U.S. Securities and Exchange Commission (\u201cSEC\u201d) continued its onslaught against Scott Rothstein associates earlier this month when it filed suit in federal court against Barry R. Bekkedam (\u201cBekkedam\u201d), Chairman and Chief Executive Officer of investment advisory firm Ballamor Capital Management (\u201cBallamor\u201d).\u00a0 The SEC suit follows a growing number of SEC actions against individuals and […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[590,593,583],"tags":[376,315,428],"class_list":["post-3087","post","type-post","status-publish","format-standard","hentry","category-misrepresentation-and-omission-of-material-facts","category-ponzi-schemes","category-sec-actions","tag-ponzi-schemes-2","tag-securities-fraud","tag-securities-violations"],"yoast_head":"\nSEC Charges Investment Advisor with Improperly Raising Funds for Ponzi Scheme — Securities Arbitration Lawyers Blog — May 28, 2014<\/title>\n<meta name=\"description\" content=\"The U.S. Securities and Exchange Commission (\u201cSEC\u201d) continued its onslaught against Scott Rothstein associates earlier this month when it filed suit in — May 28, 2014\" \/>\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.silverlaw.com\/blog\/sec-charges-investment-advisor-with-improperly-raising-funds-for-ponzi-scheme\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SEC Charges Investment Advisor with Improperly Raising Funds for Ponzi Scheme — Securities Arbitration Lawyers Blog — May 28, 2014\" \/>\n<meta name=\"twitter:description\" content=\"The U.S. Securities and Exchange Commission (\u201cSEC\u201d) continued its onslaught against Scott Rothstein associates earlier this month when it filed suit in — May 28, 2014\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Silver Law Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEC Charges Investment Advisor with Improperly Raising Funds for Ponzi Scheme — Securities Arbitration Lawyers Blog — May 28, 2014","description":"The U.S. Securities and Exchange Commission (\u201cSEC\u201d) continued its onslaught against Scott Rothstein associates earlier this month when it filed suit in — May 28, 2014","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.silverlaw.com\/blog\/sec-charges-investment-advisor-with-improperly-raising-funds-for-ponzi-scheme\/","twitter_card":"summary_large_image","twitter_title":"SEC Charges Investment Advisor with Improperly Raising Funds for Ponzi Scheme — Securities Arbitration Lawyers Blog — May 28, 2014","twitter_description":"The U.S. Securities and Exchange Commission (\u201cSEC\u201d) continued its onslaught against Scott Rothstein associates earlier this month when it filed suit in — May 28, 2014","twitter_misc":{"Written by":"Silver Law Group","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/sec-charges-investment-advisor-with-improperly-raising-funds-for-ponzi-scheme\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/sec-charges-investment-advisor-with-improperly-raising-funds-for-ponzi-scheme\/"},"author":{"name":"Silver Law Group","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"headline":"SEC Charges Investment Advisor with Improperly Raising Funds for Ponzi Scheme","datePublished":"2014-05-28T04:00:00+00:00","dateModified":"2017-12-22T19:28:31+00:00","mainEntityOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/sec-charges-investment-advisor-with-improperly-raising-funds-for-ponzi-scheme\/"},"wordCount":253,"keywords":["ponzi schemes","securities fraud","securities violations"],"articleSection":["Misrepresentation and Omission of Material Facts","Ponzi Schemes","SEC Actions"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.silverlaw.com\/blog\/sec-charges-investment-advisor-with-improperly-raising-funds-for-ponzi-scheme\/","url":"https:\/\/www.silverlaw.com\/blog\/sec-charges-investment-advisor-with-improperly-raising-funds-for-ponzi-scheme\/","name":"SEC Charges Investment Advisor with Improperly Raising Funds for Ponzi Scheme — Securities Arbitration Lawyers Blog — May 28, 2014","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/#website"},"datePublished":"2014-05-28T04:00:00+00:00","dateModified":"2017-12-22T19:28:31+00:00","author":{"@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"description":"The U.S. Securities and Exchange Commission (\u201cSEC\u201d) continued its onslaught against Scott Rothstein associates earlier this month when it filed suit in — May 28, 2014","breadcrumb":{"@id":"https:\/\/www.silverlaw.com\/blog\/sec-charges-investment-advisor-with-improperly-raising-funds-for-ponzi-scheme\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.silverlaw.com\/blog\/sec-charges-investment-advisor-with-improperly-raising-funds-for-ponzi-scheme\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.silverlaw.com\/blog\/sec-charges-investment-advisor-with-improperly-raising-funds-for-ponzi-scheme\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.silverlaw.com\/blog\/"},{"@type":"ListItem","position":2,"name":"SEC Charges Investment Advisor with Improperly Raising Funds for Ponzi Scheme"}]},{"@type":"WebSite","@id":"https:\/\/www.silverlaw.com\/blog\/#website","url":"https:\/\/www.silverlaw.com\/blog\/","name":"Securities Arbitration Lawyers Blog","description":"Published by Securities Arbitration Lawyers \u2014 Silver Law Group","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.silverlaw.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752","name":"Silver Law Group","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/9eb0a691642ae95c68ee1c45b5f50f35bae76a41f3d9f861c7bfd40c87661746?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/9eb0a691642ae95c68ee1c45b5f50f35bae76a41f3d9f861c7bfd40c87661746?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9eb0a691642ae95c68ee1c45b5f50f35bae76a41f3d9f861c7bfd40c87661746?s=96&d=mm&r=g","caption":"Silver Law Group"}}]}},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/3087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/comments?post=3087"}],"version-history":[{"count":7,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/3087\/revisions"}],"predecessor-version":[{"id":5604,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/posts\/3087\/revisions\/5604"}],"wp:attachment":[{"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/media?parent=3087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/categories?post=3087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.silverlaw.com\/blog\/wp-json\/wp\/v2\/tags?post=3087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}