Have you suffered investment losses in City Capital Corporation? If so, The White Law Group may be able to help by filing a claim against the broker dealer that sold you the investment.
The SEC recently filed a complaint against the CEO of City Capital Corporation, Ephren W. Taylor, accusing him of operating a Ponzi scheme that swindled $11 million from investors. Investors were allegedly told their funds would purchase and support various small businesses and were issued promissory notes that touted annual interest rates of 12% to 20%.
Unfortunately for investors, according to the SEC, Taylor allegedly used the funds to pay unrelated expenses, which included making “returns” to investors with new investor money.
It is unclear if Taylor has the funds to repay investors. As such, The White Law Group is investigating other avenues of recovery. It appears that some broker dealers may have solicited City Capital Corporation to clients. Broker dealers have a fiduciary duty to perform adequate due diligence on any investment offering. Brokers dealers that sold City Capital Corporation and failed to perform due diligence could be held liable for investment losses.
If you purchased City Capital Corporation through a brokerage firm and would like to discuss your potential to recover investment losses, please call The White Law Group at (312)238-9650 for a free consultation.
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 Vero Beach, Florida.
For more information on The White Law Group, visit www.WhiteSecuritiesLaw.com.