Kevin C. Brown and George P. Brown and Summit Trust— Multi-Million Dollar Offering Frauds
Kevin C. Brown, and his Father, George P. Brown, Allegedly Orchestrated Three Offering Frauds, Unregistered Offerings Related to Securities Issued by Summit Trust Company, a Nevada-chartered Trust Company
Kevin C. Brown, and his father, George P. Brown, two Pennsylvania investment advisers, allegedly orchestrated three offering frauds over the past ten years, according to recent Documents from the SEC currently under review by attorneys Joe Peiffer and Jason Kane.
Kevin C. Brown and George P. Brown allegedly offered fraudulent, unregistered offerings related to securities issued by Summit Trust Company (STC), a Nevada-chartered trust company, the Rampart Fund LP (Rampart Fund), a private fund managed by the Browns, and Trust Counselors Network, Inc. (TCN), a non-profit charitable organization, the SEC reports.
The Peiffer Wolf securities lawyers are currently investigating securities issued by Summit Trust Company, a Nevada-chartered trust company.
The Browns Raised over $33 Million from over 150 Investors in Multiple States
Kevin C. Brown and George P. Brown, between 2008 and 2014, allegedly drummed up over $33 million from over 150 investors in multiple states through the offering of STC’s preferred stock while representing that the proceeds would be used for business expansion and acquisitions, according to recent documents from the SEC currently under review by attorneys Joe Peiffer and Jason Kane.
The SEC goes on to further allege that the complaint alleges that STC and the Browns used most of the proceeds to make Ponzi-like payments to existing preferred stock shareholders, to cover obligations and expenses of the Browns’ other affiliated entities, and for undisclosed speculative investments.
One should also note that, according to the SEC Complaint, Kevin C. Brown and George P. Brown neither admitted nor denied the SEC findings.
Securities Lawyers Investigating
The Peiffer Wolf securities lawyers often represent investors who lose money as a result of offering frauds. They are currently investigating the fraudulent, unregistered offerings related to securities issued by Summit Trust Company. 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 the fraudulent, unregistered offerings related to securities issued by Summit Trust Company may 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.