Merrill Robertson Jr. and Cavalier Union Investments LLC – SEC Charges with Fraud | Goodman & Nekvasil P.A. May Recover Investor Losses
Securities and Exchange Commission Charges Merrill Robertson Jr. and Cavalier Union Investments LLC with Fraud
ACCORDING TO THE SEC:
Merrill Robertson Jr., a former player for the Philadelphia Eagles, has been sentenced to 40 years’ imprisonment for defrauding investors, including coaches he knew from his time playing football for the Fork Union Military Academy and the University of Virginia.
The criminal charges against Robertson arose from the same conduct alleged in a complaint filed by the Securities and Exchange Commission the same day the criminal charges were announced. According to the SEC’s complaint, Robertson, Sherman C. Vaughn Jr., and the company they co-owned, Cavalier Union Investments LLC, promised to invest in diversified holdings but diverted nearly $6 million of the more than $10 million they raised from investors to pay for personal expenses and used other funds to repay earlier investors. Vaughn, who also was charged criminally, pled guilty in September 2016; a jury convicted Robertson on August 24, 2017.
Robertson and Vaughn, both of Chesterfield, Virginia, are alleged to have lied about the unregistered debt securities they sold, saying they would yield as much as 20 percent “while providing safety and security for our investors.” According to the complaint, the defendants claimed that Cavalier Union Investments LLC had investment funds operated by experienced investment advisers, when it did not have any funds or investment advisers and was functionally insolvent shortly after it was formed. The defendants allegedly hid this fact from potential investors and relied on cash from new investors to stay afloat. The complaint further alleges that Cavalier Union Investments LLC only investments were in restaurants that had all failed by 2014, something the defendants never disclosed as they continued soliciting and accepting investors’ money. The scheme allegedly targeted seniors and coaches, donors, alumni, and employees of schools Robertson had attended.
The SEC’s litigation against Robertson, Vaughn and Cavalier Union Investments LLC, which was stayed pending the completion of Robertson’s criminal trial, is ongoing. The SEC seeks permanent injunctions, return of allegedly ill-gotten gains with interest, and civil penalties.
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If you invested in Cavalier Union Investments LLC, Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, has recovered more than $180 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 Cavalier Union Investments 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.
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