Carter Bain Wealth Management and RAM Fund LP Ordered to Stop Alleged Fraud | Goodman & Nekvasil P.A. May Recover Investor Losses
The Securities and Exchange Commission today announced the filing of an emergency action against Martin A. Ruiz of New York, New York, and two entities he controls, Carter Bain Wealth Management, LLC (Carter Bain) and RAM Fund, LP (RAM). Shortly after the filing of the complaint, the SEC obtained a temporary restraining order and asset freeze against Ruiz, Carter Bain, and RAM to stop an allegedly ongoing fraudulent securities offering through which Ruiz and his entities allegedly misappropriated millions of dollars from investors.
According to the SEC’s complaint, filed in the United States District Court for the Southern District of New York on August 6, 2021, and unsealed on August 12, 2021, Ruiz induced at least 56 investors, many of whom are elderly clients of Ruiz’s New Mexico-based investment adviser Carter Bain, to invest at least $10.6 million in RAM by falsely claiming that their funds would be used to acquire real estate and to make commercial loans. According to the complaint, however, Ruiz misappropriated the vast majority of the investors’ funds to support his lavish lifestyle by, among other things, paying for his residences in Manhattan and Santa Fe, covering millions of dollars in credit cards bills, and making student loan payments. The complaint also alleges that Ruiz hid the fraud from investors by making Ponzi-like payments, and providing investors with false valuations concerning their RAM investments.
Investors in Carter Bain Wealth Management and/or RAM Fund LP May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested in Carter Bain Wealth Management and/or RAM Fund LP, 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 with Carter Bain Wealth Management and/or RAM Fund LP 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.