SEC reportedly charges Atlanta RIA Joseph A. Meyer Jr. with fraud
Are you concerned about investments with Joseph A. Meyer Jr. in Atlanta, GA? If so, the securities attorneys at The White Law Group may be able to help you.
According to a press announcement on January 28,the Securities and Exchange Commission has reportedly charged registered investment adviser Joseph A. Meyer, Jr., of Atlanta, GA., and Statim Holdings with defrauding a private fund they managed and its investors.
From August 2009 through June 2018, Joseph A. Meyer, Jr., and Statim Holdings, Inc. reportedly offered and sold four classes of limited partnership interests in Arjun, L.P., a private fund.
According to the SEC’s complaint, Meyer allegedly promised investors that, in return for giving up substantial portions of their profits, investors in one class would be protected from losses, a feature he reportedly called “No Loss Protection,” and investors in two other classes would receive guaranteed fixed returns.
The complaint further alleges that Meyer told investors that the relinquished profits would be used to fund the No Loss Protection and guaranteed returns when Arjun had insufficient profits.
Meyer purportedly withdrew most of the relinquished profits and used the funds to pay his living expenses, according to the complaint. The SEC said it is seeking permanent injunctive relief, disgorgement of ill-gotten gains with prejudgment interest, and civil penalties.
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As fiduciaries, investment advisers are required to act in the best interest of their clients and not place their own interests ahead of their clients.
When investment advisers violate securities laws, such as making false and misleading statements, or violating their fiduciary duty, the investment adviser firm they are working with may be liable for investment losses.
If you have suffered losses investing with Joseph A. Meyer Jr., please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.