Optimal Economics Capital Partners, LLC, Howard Capital Holdings, LLC and Patrick O. Howard – Goodman & Nekvasil P.A. May Recover Investor Losses
Securities and Exchange Commission Charges Optimal Economics Capital Partners, LLC, Howard Capital Holdings, LLC and Patrick O. Howard
The Securities and Exchange Commission announced fraud charges and an emergency court order to stop a fraudulent offering of investments in private funds.
The SEC’s complaint filed under seal in federal court in Dallas, Texas on February 14, 2017, alleges that since February 2015, Patrick O. Howard and two Dallas-based companies he controls – Optimal Economics Capital Partners, LLC and Howard Capital Holdings, LLC – have raised approximately $13 million from 119 investors through the fraudulent offer and sale of interests in three private funds. According to the SEC’s complaint, Howard and his companies told investors that they would earn between 12% and 20% annual returns through investing in these funds with minimal risk exposure. They also allegedly represented that nearly all investor funds would be used to acquire the interests in the portfolio companies’ revenue streams, and that the promised returns were backed by insurance. The SEC alleges that these representations were false. According to the SEC, Howard and his companies only used $7.5 million of the $13 million in investor funds to acquire revenue streams from portfolio companies and spent most of the rest on Howard’s personal expenses and on unrelated business expenses. In addition, the SEC’s complaint alleges that, to cover up the fact that revenue from the portfolio companies was insufficient to support the guaranteed minimum returns promised to investors, Howard sent to investors account statements that depicted false account balances and encouraged investors to “reinvest” their purported earnings back in the funds. Additionally, Optimal Economics allegedly used new investor funds to make Ponzi-like payments to earlier investors.
Investors in Optimal Economics Capital Partners, LLC and/or Howard Capital Holdings, LLC May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested in Optimal Economics Capital Partners, LLC and/or Howard Capital Holdings, 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 Optimal Economics Capital Partners, LLC and/or Howard Capital Holdings, 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.