SEC Obtains Final Judgment Against George S. Blankenbaker for Fraud | May Recover Investor Losses

SEC Obtains Final Judgment Against George S. Blankenbaker for  Fraud | Goodman & Nekvasil P.A. May Recover Investor Losses

According to the SEC:

On January 21, 2022, the U.S. District Court for the Southern District of Indiana entered a final consent judgment against George S. Blankenbaker, an Indianapolis-area resident, and three of his companies who were previously charged by the SEC with raising over $11 million by defrauding more than 100 investors, many of whom were elderly.

According to the SEC’s complaint filed on March 31, 2021, between August 2016 and May 2019, Blankenbaker and his companies, StarGrower Commercial Bridge Loan Fund 1 LLC, StarGrower Asset Management LLC, and Blankenbaker Investments Fund 17 LLC, falsely told investors that their money would be used to make short-term loans to food exporters in Asia, and that the investments were secured by shipping containers holding the food products. In fact, the complaint alleges, Blankenbaker misused at least $8.1 million of their money, including by directing at least $4 million to hemp companies, using at least $965,000 in new investor funds to make Ponzi-style payments to prior investors, and misappropriating at least $1.7 million in investor funds for his own personal benefit. The complaint also alleges that, as result of Blankenbaker’s fraud, investors lost at least $8.1 million.

Investors with George S. Blankenbaker May Recover their Losses with Goodman & Nekvasil, P.A.

If you invested with George S. Blankenbaker, 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 $250 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 almost 40 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 George S. Blankenbaker 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.