Jacob Cooper Allegedly Used Investor Money to Settle Prior SEC complaint
Jacob Cooper, a radio investment adviser based in San Diego and head of the firm Total Wealth Management (TWM), is looking at a fresh set of fraud charges after he allegedly attempted to misappropriate client funds to settle an earlier fraud case with the SEC, according to a new complaint currently under review by attorneys Jason Kane and Joe Peiffer.
The SEC filed the charges against Mr. Cooper and his firm after they misused investor money for the original settlement and defrauded clients through unexplained “administrative” fees, the SEC complaint further alleges.
As a result, the SEC is now looking to freeze TWM’s assets, appoint a receiver to oversee remaining funds, and assess civil penalties, according to a new complaint being analyzed by attorneys Jason Kane and Joe Peiffer. The Peiffer Wolf Carr & Kane investment recovery lawyers represent investors who were referred by Cooper to the MicroPipe program and have filed claims on their behalf.
Total Wealth Management Allegedly Borrowed $150,000 in Client Funds to Assist Settling SEC Administrative Action
Cooper founded TWM in 2009 and built it up through a weekly radio show on investing, and allegedly borrowed $150,000 in client funds to help settle an SEC administrative action from April, according to the SEC complaint currently under review by attorneys Jason Kane and Joe Peiffer.
Said action accused Cooper of allegedly committing fraud by pooling around 75% of clients’ $100 million assets into a private fund, which he then invested in unaffiliated funds that paid an undisclosed revenue-sharing fee back to clients.
Investment Recovery Lawyers Investigating
The Peiffer Wolf Carr & Kane investment recovery attorneys often represent investors who lose money as a result of investment misconduct, and mail or wire fraud, and are currently investigating Jacob Cooper and Total Wealth Management. The Peiffer Wolf Carr & Kane investment recovery lawyers represent investors who were referred by Cooper to the MicroPipe program and have filed claims on their behalf. 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 misinformation, or the alleged fraud committed by Jacob Cooper may contact the investment rights attorneys at Peiffer Wolf Carr & Kane, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at (585) 310-5140.
Broker: Jacob Cooper
Status: INVESTIGATED by Peiffer Rosca.
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