SEC Charges Janalie Bingham and Jean Joseph in $56 Million Real Estate Ponzi Scheme – Goodman & Nekvasil, P.A.

SEC Charges Janalie Bingham and Jean Joseph in $56 Million Real Estate Ponzi Scheme – Goodman & Nekvasil, P.A.

SEC Charges Janalie C. Bingham and Jean Joseph in $56 Million Real Estate Ponzi Scheme.

Call 800-500-4442 if you think that you have received unsuitable investment recommendations from your adviser.

The SEC’s complaint alleges that from at least January 2020, using a network of unregistered sales agents, the defendants allegedly solicited investors to invest in promissory notes, purportedly collateralized and secured by real estate.In reality, the SEC alleges that Bingham and Joseph  misused approximately $28 million of investor proceeds by diverting those funds to dozens of brokerage accounts and engaging in highly speculative futures and options trading.

The SEC alleges that the defendants have paid approximately $6.9 million in undisclosed commissions to sales agents and, in a Ponzi-like fashion, misused about $10 million of investor funds to make interest payments and redemptions to investors.  Joseph is also a convicted felon from a previous investment scheme.

Janalie C. Bingham & Jean Joseph

SEC Charges Janalie C. Bingham and Jean Joseph in $56 Million Real Estate Ponzi Scheme.

Goodman & Nekvasil, P.A., is investigating brokers who may have unsuitably recommended investments to their clients.

St. Petersburg, Florida law firm Goodman & Nekvasil, P.A., has a national practice representing victimized investors.  The  firm continues to investigate brokerage firms that placed elderly retirees and other conservative investors in unsuitable investments.

Goodman & Nekvasil, P.A., has filed numerous cases against brokerage firms selling high-risk investments and has recovered more than $400 million dollars on behalf of victimized investors.

We allege in these cases that these investment recommendations were unsuitable for our clients in view of their financial situation, needs and investment objectives.

There is no charge for an evaluation of your case. We handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee.

If you incurred losses on your investment and would like your case evaluated by a securities attorney, please contact us.

Some of the information in this blog post was obtained from FINRA on 8/22/24. If you believe this information was reported incorrectly, please contact our firm: 1-800-500-4442.

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