SEC Names Robert D Welsh In Complaint For Allegedly Operating A Massive Ponzi Scheme – Goodman & Nekvasil, P.A. May Recover Investor Losses
Dallas-Fort Worth residents Kenneth W. Alexander II, Robert D. Welsh, and Caedrynn E. Conner were named in the SEC Complaint for operating a Ponzi scheme that raised at least $91 million from more than 200 investors.
According to the SEC’s complaint, between approximately May 2021 and February 2024, Alexander and Welsh operated the scheme through a trust controlled by Alexander called Vanguard Holdings Group Irrevocable Trust (VHG). They falsely represented that investors would receive 12 guaranteed monthly payments of between 3% and 6% per month, with the principal investment to be returned after 14 months, according to the complaint.
The SEC alleges that Alexander and Welsh held VHG out as a highly profitable international bond trading business with billions in assets, and told investors that the monthly returns were generated from international bond trading and related activities.
As alleged, Conner funneled more than $46 million in investor money to VHG through a related investment program that he operated using Benchmark Capital Holdings Irrevocable Trust (Benchmark), which he controlled. According to the complaint, Alexander, Welsh, and Conner also offered investors the option to protect their investments from risk of loss through the purchase of a purported financial instrument they called a “pay order.” In reality, as the SEC alleges, VHG had no material source of revenue, the purported monthly returns were actually Ponzi payments, and the protection offered by the “pay orders” was illusory.
ROB WELSH, ROBERT WELSH
CRD#: 5057780
Call 800-500-4442 if you Invested in the Vanguard JV Cash Program.
SEC Names Robert D Welsh In Complaint For Allegedly Operating A Massive Ponzi Scheme
Goodman & Nekvasil, P.A., is investigating brokers who may have unsuitably recommended Drive Planning, LLC 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 $500 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.
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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 5/01/25. If you believe this information was reported incorrectly, please contact our firm: 1-800-500-4442.