Todd Hitt – SEC Charges Developer Todd Hitt with Fraud | Goodman & Nekvasil P.A. May Recover Investor Losses
Securities and Exchange Commission Charges Todd Elliott Hitt, Kiddar Capital LLC and Kiddar Group Holdings, Inc.
ACCORDING TO THE SEC: The Securities and Exchange Commission charged a Virginia real estate developer with skimming investor funds that were intended for use in purchasing an office building near the site of a planned commuter rail station on the Washington Metropolitan Area Transit Authority’s Silver Line. The complaint also alleged commingling and misappropriation of investments in various real-estate and other projects.
As alleged in the SEC’s complaint, over at least a four year period, Todd Elliott Hitt used two of his companies – Kiddar Capital LLC and Kiddar Group Holdings, Inc. – to raise more than $20 million from investors for the purpose of acquiring and operating the Silver Line office building, new home construction in Northern Virginia, and a fund managed by Hitt that invested in a start-up business. The SEC alleges that Hitt made misrepresentations about his own investments in the ventures and misappropriated several million dollars of investor funds to support his extravagant lifestyle and make Ponzi-like payments to prior investors.
As part of his settlement with the SEC, the terms of which remain subject to court approval, Hitt consented to entry of a judgment freezing his assets and imposing conduct-based injunctions that enjoin him from participating in the offer or sale of interests in real estate development companies. Hitt has also consented to the appointment of a receiver over a number of the corporate defendants and relief defendants. Under the terms of the proposed settlement, the Receiver would protect investors, prevent asset dissipation and loss, and attend to the businesses. Penalties and disgorgement would be determined by the court at a later date.
Investors in Kiddar Capital LLC and/or Kiddar Group Holdings, Inc. May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested in Kiddar Capital LLC and/or Kiddar Group Holdings, 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 Kiddar Capital LLC and/or Kiddar Group Holdings, Inc. 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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