Activated Capital LLC Charged by SEC | Goodman & Nekvasil P.A. May Recover Investor Losses
On November 15, 2021, the Securities and Exchange Commission charged Joshua Burrell and his firm, Activated Capital, LLC, with securities fraud in connection with Opportunity Zone investments.
The SEC’s complaint alleges that from at least February 2019 through February 2021, Burrell, through Activated, raised approximately $6.3 million from investors to invest in Opportunity Zones, a community development program established by the Tax Cuts and Jobs Acts of 2017. The offering materials represented that the properties would be purchased in the name of the funds in which investors had invested and that distributions to investors would come from income from the real estate. The complaint alleges that instead Burrell misappropriated investor money by using it to purchase properties in the name of entities that were not owned by the investors or the funds, and to pay purported distributions to investors. The offering materials and marketing materials also misrepresented that the fund would have an outside custodian and that the Activated principals had made significant investments into the fund. Finally, Burrell also misappropriated approximately $100,000 of investor funds, including $56,000 which he falsely characterized as “property improvement” expenses.
Investors in Activated Capital LLC May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested in Activated Capital LLC Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a St. Petersburg, FL law firm with a national practice representing victimized investors, has recovered more than $200 million dollars on behalf of victimized investors.
All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
If you incurred investment losses in Activated Capital LLC, and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.