Christopher F. Brogdon and Summit Trust—Fraud Charges
Chris Brogdon and Summit Trust Allegedly Raised Money from Investors Through Fraudulent Private Placement, Muni Bond Offerings, SEC Charges
Christopher Brogdon and Summit Trust allegedly raised money from investors through a fraudulent investment scheme that stretched over nearly two decades, according to civil fraud charges filed by the Securities and Exchange Commission in federal court.
Brogdon and Summit Trust are accused of raising nearly $200 million from investors through municipal bond offerings and private placements, according to case documents reviewed by the Peiffer Wolf Carr & Kane securities lawyers, Jason Kane and Joe Peiffer.
The Peiffer Wolf Carr & Kane lawyers are preparing to take action and seek compensation on behalf of investors who lost money invested in Brogdon’s allegedly fraudulent scheme. Investors who believe they may have lost money invested with Brogdon, Summit Trust, and/or their affiliated entities may contact Peiffer Wolf Carr & Kane attorneys Jason Kane or James Booker to provide information or for a free, no-obligation discussion about their legal options.
Christopher F. Brogdon Falsely Told Investors that Their Money Would Be Invested in Specific Senior Care Facilities, the SEC Alleged
Christopher F. Brogdon falsely told investors their money was to be invested in specific senior care facilities, according to the SEC’s allegations. Investors were also assured that the return payments on their investments would primarily come from cash flow generated by those respective facilities, according to case documents reviewed by the Peiffer Wolf Carr & Kane attorneys.
In reality, investor money was divested to other projects, without investors’ knowledge or permission, the SEC alleged. What is more, distribution payments on the investors’ investments were made from unauthorized sources, as several of those facilities struggled financially, the SEC charged.
“New investor money improperly divested from one investment program to another and used to make distribution payments to earlier investors is the very definition of a Ponzi scheme,” said securities attorney Jason Kane.
Securities Lawyers Investigating
The Peiffer Wolf Carr & Kane lawyers are investigating whether or not Christopher Brogdon and Summit Trust perpetrated a Ponzi scheme upon investors. They are also evaluating a number of potential recovery options on behalf of victimized investors. Their goal is to supplement whatever recovery may be available to investors through the SEC proceedings currently pending.
The Peiffer Wolf Carr & Kane securities lawyers often represent investors who lose money as a result of alleged investment fraud and schemes. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money invested with Christopher F. Brogdon, Summit Trust, and/or their affiliated entities may contact the securities lawyers at Peiffer Wolf Carr & Kane, Jason Kane or James Booker, to provide information about this case or for a free no-obligation evaluation of their recovery options, at (585) 310-5140, by email at email@example.com, or via the contact form on this page.