Mark Sellers, John Scott Elliott—Ponzi Scheme
Mark Sellers Allegedly Orchestrated a Ponzi Scheme with Alleged Help from John Scott Elliott to Purportedly Sell Investments in Kansas City-Based Selden Companies
Have you or a loved one lost money investing in Selden Companies LLC? Mark Sellers, the owner of Selden Companies LLC, a Kansas City, Missouri-area based firm, allegedly orchestrated a Ponzi scheme, according to an Action from the Department of Justice currently under review by attorneys Alan Rosca and James Booker.
Peiffer Rosca Wolf securities practice lawyers are investigating investment recovery options on behalf of investors in issues related to Mark Sellers’ alleged Ponzi scheme.
Investors who believe they may have lost money in activity related to Mark Sellers’ alleged Ponzi scheme are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.
John Elliott has been registered as a financial advisor with Ameriprise Financial Services from November 2011 to September of 2016. Elliott was terminated by Ameriprise for alleged “compliance policy violations related to selling away”, according to reports from Kansas City. The Peiffer Rosca Wolf lawyers are investigating whether Elliott helped raise funds for Sellers and his Selden Companies scheme from some investors.
Selling away is a term which refers to a financial advisor who solicits investments in companies, promissory notes, or other securities that are not pre-approved by the broker’s affiliated firm.
Mark Sellers Allegedly Ran a $10 Million Ponzi Scheme Involving Approximately 100 Investors; Sellers Reportedly Committed Suicide Following an FBI Raid of His Home
Mark Sellers allegedly ran a $10 million Ponzi scheme, from December 2007 through at least 2015, and involving about 100 investors through his firm, Selden Companies, LLC, according to the aforementioned Action presently being reviewed by attorneys Alan Rosca and James Booker.
Sellers then allegedly shot himself Tuesday morning Aug. 2 as FBI agents searched his home, according to reports from Kansas City.
Sellers allegedly made fraudulent misrepresentations to investors that he would implement the funds to buy companies and then turn them around to make a profit, the Action notes.
Sellers and his wife, however, allegedly spent almost all of the aforementioned invested funds to live a lavish lifestyle including life insurance policies, homes, jewelry, and credit card purchases which have allegedly been laundered through multiple bank accounts, the Action states.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of alleged investment fraud and are currently investigating Mark Sellers’ 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.
Investors who believe they lost money as a result of Mark Sellers’ alleged Ponzi scheme may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520 or via e-mail at firstname.lastname@example.org or email@example.com.