Patrick Howard – Fraud Charges/Fraudulent Offering
Patrick O. Howard and Two Dallas-based Companies, Optimal Economics Capital Partners, LLC and Howard Capital Holdings, LLC, Allegedly Raised $13 Million from 119 Investors through the Purportedly Fraudulent Offer and Sale of Interests in Three Private Funds
Have you lost hard-earned cash investing in Patrick Howard’s Optimal Economics Capital Partners, LLC or Howard Capital Holdings, LLC?
Several Peiffer Wolf Carr & Kane securities practice lawyers are investigating investment recovery options on behalf of investors in Howard’s alleged investment fraud.
Investors who believe they may have lost money in Howard’s alleged investment fraud funds are encouraged to contact attorneys Jason Kane or James Booker with any useful information or for a free, no obligation discussion about their options.
Patrick Howard and two Dallas-based Companies, Optimal Economics Capital Partners, LLC and Howard Capital Holdings, LLC, allegedly raised $13 million from 119 investors through the fraudulent offer and sale of interests in three private funds, according to SEC Documents currently under review by attorneys Jason Kane and James Booker.
The SEC’s Complaint makes further allegations that Patrick Howard and his companies, since February 2015, allegedly told investors that they would earn between 12% and 20% annual returns by investing in said funds with minimal risk exposure.
Howard also allegedly made representations that nearly all investor funds would be used to acquire the interests in the portfolio companies’ revenue streams, and that the promised returns were backed by insurance, the SEC states.
The Peiffer Wolf Carr & Kane securities lawyers are investigating Patrick Howard’s alleged investment fraud.
Howard and His Companies Allegedly Only Used $7.5 Million of the $13 Million in Investor Funds to Acquire Revenue Streams from Portfolio Companies; Optimal Economics Allegedly Used Fresh investor Funds to Deliver Ponzi-like Payments to Earlier Investors
Howard and his companies allegedly only implemented $7.5 Million of the $13 million in investor funds to make acquisitions of revenue streams from portfolio companies, according to the aforementioned SEC Documents being examined by attorneys Jason Kane and James Booker.
What is more, they also allegedly represented that nearly all investor funds would be used to acquire the interests in the portfolio companies’ revenue streams, and that the promised returns were backed by insurance, the SEC also alleges.
The SEC purports that these alleged representations were false, the SEC Documents report.
Howard, in order to allegedly cover up the reality that revenue from the portfolio companies was not enough to support the guaranteed minimum returns promised to investors then allegedly sent account statements to investors that purportedly depicted false account balances and which encouraged investors to “reinvest” their purported earnings back in the funds, according to the SEC Complaint.
Finally, Optimal Economics allegedly used new investor funds to make Ponzi-like payments to earlier investors, the SEC states.
Securities Lawyers Investigating
The Peiffer Wolf Carr & Kane securities lawyers often represent investors who lose money as a result of investment fraud and are currently investigating Patrick Howard’s alleged investment fraud. 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 Patrick Howard’s alleged investment fraud may contact the securities lawyers at Peiffer Wolf Carr & Kane, Jason Kane or James Booker, for a free no-obligation evaluation of their recovery options, at (585) 310-5140 or via e-mail at email@example.com or firstname.lastname@example.org.