Natural Diamonds Investment, Eagle Financial Diamond Group and Argyle Coin LLC – SEC Alleges Fraud | Goodman & Nekvasil P.A. May Recover Investor Losses
ACCORDING TO THE SEC:
The Commission brings this action to enjoin Natural Diamonds Investment Co. (Natural Diamonds”), Eagle Financial Diamond Group lnc., a/k/a Diamante Atelier (“Eagle”), and Argyle Coin, LLC (Argyle Coin”) (collectively, the Corporate Defendants’), and their owners Jose Angel Aman (“Aman”) Harold Seigel (“H. Seigel”) and Jonathan H. Seigel (“J. Seigel”) from continuing to defraud investors through the sale of securities in violation of the anti-fraud and registration provisions of the federal securities laws
From no later than May 2014, the Defendants have raised about $30 million from approximately 300 investors through the sale of securities in the form of promissory notes and investment contracts in Argyle Coin, Natural Diamond, and Eagle.
To lure investors, the Defendants have knowingly or recklessly materially misrepresented how they would use investor funds and the safety of the investments.
Collectively, the Defendants have misused or misappropriated more than $10 million of the $30 million raised from investors in a manner contrary to the representations to investors.
From no later than May 2014 through at least December 2018, Natural Diamonds, Aman, and the Siegels engaged in the unregistered offering of securities in the form of investment contracts in Natural Diamonds. They told prospective investors that Natural Diamonds would use investor funds to acquire raw colored diamonds known as “fancy colored diamonds,” which they would then cut, polish, and resell for profits that would result in investment returns of 24% and the full return of investors’ principal within two years.
ln reality, Natural Diamonds was a Ponzi scheme. Aman and Natural Diamonds used investor funds to pay prior investors their purported returns.
When the well began to run dry in early 2015, Eagle, Aman, and the Seigels commenced a second unregistered Offering, this time in the form of investment contracts in Eagle. They made the same false representations about the use of investors’ funds and fueled the Ponzi scheme by using Eagle investors’ funds to pay Natural Diamonds and Eagle investors their purported investment returns.
Through their conduct, Aman, Argyle Coin, Natural Diamonds, and Eagle have violated the anti-fraud provisions of the federal securities laws, and all of the Defendants have violated the registration provisions of the federal securities laws.
Investors in Natural Diamonds Investment, Eagle Financial Diamond Group and/or Argyle Coin LLC May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested with Natural Diamonds Investment, Eagle Financial Diamond Group and/or Argyle Coin 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 with Natural Diamonds Investment, Eagle Financial Diamond Group and/or Argyle Coin 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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