Marquis Properties, LLC and Chad R. Deucher – SEC Charges with Ponzi Scheme | Goodman & Nekvasil P.A. May Recover Investor Losses
Securities and Exchange Commission Charges Marquis Properties LLC and Chad Deucher with Ponzi Scheme
ACCORDING TO THE SEC: The Securities and Exchange Commission obtained an asset freeze and other ancillary relief against Marquis Properties, LLC, and its CEO/President Chad R. Deucher for orchestrating a $28 million Ponzi scheme that defrauded more than 250 investors throughout the United States. The complaint also names Marquis’ Executive Vice President, Richard (“Rick”) Clatfelter as a defendant.
According to the SEC’s complaint, filed on January 19, 2016 in federal court in Utah:
From March 2010, Marquis, through Deucher and Clatfelter, orchestrated a scheme to defraud unwitting investors by inducing them to invest in notes and investment contracts collateralized by real estate.
Marquis represented that it would use investor funds to purchase real properties and that investors would receive guaranteed profits and return of principal upon sale of the properties. Marquis represented that investments were safe and low risk because the notes and investment contracts were 100% collateralized by valuable real property.
Marquis failed to purchase properties with investor funds, however, and properties offered as collateral were often not owned by Marquis, were substantially encumbered, or were in uninhabitable or blighted condition.
Rather than using investor funds as represented, Marquis used investor funds to pay returns to earlier investors, in a classic Ponzi scheme. Marquis could not have paid returns to earlier investors without the influx of new investor money.
- Deucher caused Marquis to use investor funds to pay personal expenses of Deucher and directed Marquis to provide investor funds to his wife.
Investors in Marquis Properties, LLC May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested in Marquis Properties, 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 Marquis Properties, 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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