The U.S. Securities and Exchange Commission has recently sued a Utah man for fraudulently misusing $139 million of investor funds. According to a lawsuit filed in federal court in Salt Lake City, Travis Wright misappropriated all but $6 million of the $145 million he raised from about 175 investors between 2001 and 2009 by selling notes issued by his Waterford Loan Fund LLC.
The White Law Group is investigating whether investors in the Waterford Loan Fund were introduced to the firm or to Travis Wright by their financial professional or brokerage firm. If a financial professional or brokerage firm recommended that an investor invest with Waterford Loan Fund, they may have liability for failing to perform the necessary due diligence to determine that the Waterford Loan Fund was a ponzi scheme.
Waterford Loan Fund LLC and its Waterford Funding LLC affiliate are being liquidated in bankruptcy.
If you have any information that may assist The White Law Group in its investigation, please contact our Chicago office at 312-238-9650.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida. With over 30 years of securities law experience, including experience working at FINRA (f/k/a the NASD) and the SEC, The White Law Group has the expertise to help investors defrauded in securities, investment and financial business transactions. For more information on The White Law Group, please visit our website at https://www.whitesecuritieslaw.com.