VisionQuest Capital, LLC, VisionQuest Wealth Management, LLC, VQ Wealth, LLC and Stephen C. Peters Charged by SEC – Goodman & Nekvasil P.A. May Recover Investor Losses
Securities and Exchange Commission Charges VisionQuest Capital, LLC, VisionQuest Wealth Management, LLC, VQ Wealth, LLC and Stephen C. Peters
The Securities and Exchange Commission charged a Raleigh, North Carolina-based investment adviser with running a Ponzi scheme that primarily targeted his clients, many of whom were retired and elderly.
The SEC alleges that Stephen C. Peters, through his investment adviser firm VisionQuest Wealth Management, sold promissory notes issued by another one of his companies, VisionQuest Capital, to clients and other prospective investors while making false statements, including that proceeds would be invested into revenue-producing businesses with neither Peters nor his businesses receiving compensation. According to the complaint, Peters allegedly claimed that the VisionQuest Capital notes presented little or no risk of loss and were “guaranteed.”
According to the SEC’s complaint, investor funds were not used as Peters claimed. Peters allegedly spent at least $4.4 million on such personal endeavors as remodeling a large farm in North Carolina, purchasing fine art for his home, and constructing a vacation home in Costa Rica. According to the SEC’s complaint, Peters also spent at least $4.9 million to make Ponzi payments to earlier investors.
In a parallel action, the U.S. Attorney’s Office for the Eastern District of North Carolina announced criminal charges against Peters, including a charge that alleges that Peters attempted to withhold and conceal records from the SEC, fabricated records, and provided false testimony in the SEC’s investigation of Peters’ scheme.
The SEC’s complaint charges Peters, VisionQuest Wealth Management, LLC, VisionQuest Capital, LLC, and VQ Wealth, LLC, with violations of the antifraud provisions of the federal securities laws. The SEC seeks disgorgement of ill-gotten gains plus interest and penalties as well as injunctions.
Investors in VisionQuest Capital, LLC, VisionQuest Wealth Management, LLC, VQ Wealth, LLC May Recover their Losses with Goodman & Nekvasil, P.A.
If you invested in VisionQuest Capital, LLC, VisionQuest Wealth Management, LLC, VQ Wealth, 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 VisionQuest Capital, LLC, VisionQuest Wealth Management, LLC and/or VQ Wealth, 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.
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