Goodman & Nekvasil P.A. May Recover Investor Losses | Sean Kelly and Lion’s Share, SEC Alleges Fraud
Securities and Exchange Commission Alleges that Sean Kelly and Lion’s Share are Involved in a Fraudulent Scheme
-Update 2-25-20- Goodman & Nekvasil, P.A. has filed an arbitration claim against Capital Financial Services, Inc. involving the sale of Shopoff Funds and GPB Capital.
Sean Kelly was a licensed financial advisor located in Marietta, Georgia with Center Street Securities, Inc. from 2017 to 2018 and Capital Financial Services, Inc. from 2012 to 2017.
The SEC alleges that since at least 2014, Kelly, through Lion’s Share, raised at least $1,000,000 from at least 12 investors, promising that he would invest the funds in a variety of investment vehicles, such as CDs, private placements and real estate funds. According to the SEC, rather than investing the money, Sean Kelly stole it and spent his victims’ money for things like Super Bowl tickets, luxury vacations and cash withdrawals. The SEC alleges that many of Sean Kelly’s victims are elderly retirees, and Sean Kelly’s victims include widows, veterans and people with disabilities.
According to a complaint filed by the FBI Kelly’s scheme to defraud often operated as follows. When Sean Kelly’s customers wanted to invest money, he would often direct them to make the check out to “Lion’s Share” rather to Center Street Securities, Inc. or to a third party. According to the FBI, in certain instances, these checks were placed into the U.S. mail (from places such as Florida) and sent to Sean Kelly in the Northern District of Georgia. The FBI alleges that after receiving the checks, Sean Kelly would deposit them into a bank account that he controlled.
The SEC alleges that Sean Kelly treats Lion’s Share as his personal piggy bank, and Sean Kelly has transferred hundreds of thousands of dollars of investor money to bank accounts Sean Kelly controls to support Sean Kelly’s lifestyle. The SEC alleges that Sean Kelly has also withdrawn large quantities of investor money in cash throughout the course of the scheme, and the disposition of those funds is unknown.
Investors with Sean Kelly May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested with Sean Kelly, 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 Sean Kelly 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.