James A. Torchia— Ongoing Investment Fraud Involving Promissory Notes and Life Settlement Contracts, Ponzi Scheme
James A. Torchia Allegedly Engaged in Ongoing Investment Fraud Involving Promissory Notes and Life Settlement Contracts
James A. Torchia allegedly engaged in outgoing investment fraud involving promissory notes and life settlement contracts, according to recent SEC Documents currently under review by attorneys Joe Peiffer and Jason Kane.
On November 10, 2015, the SEC filed an emergency civil action in federal court in Atlanta against James A. Torchia, a resident of Canton, Georgia, and the following entities that he operates and controls: Credit Nation Capital, LLC (formerly known as Credit Nation Lending, LLC), a Georgia limited liability company in Woodstock Georgia, Credit Nation Acceptance, LLC, a Texas limited liability company in Midland, Texas, Credit Nation Auto Sales, LLC, a Georgia limited liability company in Woodstock, Georgia, American Motor Credit, LLC, a Georgia limited liability company in Woodstock, Georgia, and Spaghetti Junction, LLC, a Nevada limited liability company.
The Peiffer Wolf securities lawyers are currently investigating James A. Torchia’s alleged investment fraud involving promissory notes and life settlement contracts, and would like to talk to investors.
James A. Torchia, Since 2009, through CN Capital, Has Allegedly Raised Tens of Millions of Dollars from Investors Who Purchased Unregistered Promissory Notes, Most of which Purportedly Promised a 9% Return; CN Allegedly Operates as Ponzi Scheme
James A. Torchia, since 2009, through CN Capital, has allegedly raised tens of millions of dollars from investors who purchased unregistered promissory notes, most of which purportedly promised a 9% return, according to recent SEC Documents presently being reviewed by attorneys Joe Peiffer and Jason Kane.
The SEC Complaint further alleges that CN Capital touts the safety of the promissory notes, describing them to investors as “100% asset backed” and “backed by hard assets dollar for dollar.”
CN Capital has also allegedly generated substantial losses each year since at least 2011 and is insolvent, according to the Complaint. CN Capital basically, the SEC also alleges, operates as an ongoing Ponzi scheme through which the promised investment returns are paid using new investor money.
Securities Lawyers Investigating
The Peiffer Wolf securities lawyers often represent investors who lose money as a result of Ponzi schemes, and are currently investigating James A. Torchia’s alleged investment fraud and Ponzi schemes. They would like to talk to individuals who invested in the entities that Torchia operates and controls. 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 as a result of James A. Torchia allegedly engaging in investment fraud and operating a Ponzi scheme are encouraged to contact the securities lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 585-310-5140.