Gregory Gray and Archipel Funds, Pangea Defrauding Investors: SEC

ponzi scheme attorneysGregory Gray and His Archipel and Pangea Fund Management Businesses Allegedly Engaged in Fraudulent Conduct Designed to Defraud Numerous Investors

Gregory Gray and his entities, Archipel and BIM, allegedly engaged in ongoing fraudulent conduct designed to defraud investors and various Archipel-managed investment funds, according to a recent Complaint filed by the SEC and currently under review by attorneys Joe Peiffer and Alan Rosca.

The Complaint, self-described as “an emergency action”, further alleges that, from 2011 through present, Gray has allegedly raised nearly $20 million from at least 140 investors throughout the United States and abroad.  The Peiffer Rosca Wolf investment recovery lawyers are currently investigating Gregory Gray and his entities, Archipel and BIM, and would like to talk to investors.

Gray Allegedly Operated Classic Ponzi-like Scheme, Using Millions of Dollars from Archipel Entity to Provide Fictitious Returns to Other Investors

From at least June 2014 through February of 2015, Gray allegedly operated a classic Ponzi-like scheme, using over $5 million of funds from three different Archipel Entities to provide fictitious returns to investors in another Archipel Entity, the Social Media Fund LP, according to a recent Complaint filed by the SEC and currently being reviewed by attorneys Joe Peiffer and Alan Rosca.

In addition, Gray allegedly solicited investors in the Social Media Fund LP by promising that the fund would buy pre-IPO shares of Twitter, Inc. for $19 to $25 per share, and that it would deliver out to them once Twitter went public. Gray reportedly took in over $5.2 million, which represents approximately 230,000 pre-IPO Twitter shares, according to the Complaint.

In reality, the Complaint further alleges, Gray only purchased 80,000 pre-IPO Twitter shares at an average price of$23.44 per share by the time Twitter went public in November 2013, leaving him in a shortfall, and under increasing pressure from investors.

Investment Recovery Lawyers Investigating

The Peiffer Rosca Wolf investment recovery attorneys often represent investors who lose money as a result of investment misconduct, and are currently investigating Gregory Gray and his entities, Archipel and BIM, and his alleged Ponzi scheme. 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.

Any investors who believe they lost money as a result of alleged fraud committed by Gregory Gray and his entities, Archipel and BIM, may contact the investment rights attorneys at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1160 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.