Paul Lee Moore and Coast Capital Management—Ponzi Scheme
Paul Lee Moore and His Coast Capital Management Allegedly Ran a Ponzi Scheme Which Raised $2.6 Million from Clients
Paul Lee Moore and his Coast Capital Management allegedly ran a Ponzi scheme which purportedly siphoned $2.6 Million, according to SEC documents currently under review by Attorneys Joe Peiffer and Jason Kane.
Said SEC Documents go on to allege that Paul Lee Moore, an investment advisor in San Diego, allegedly stole money from clients for personal use and conducted a Ponzi scheme to pay customers making redemption requests.
The Peiffer Wolf securities lawyers are currently investigating Paul Lee Moore and his Coast Capital Management for allegedly running a Ponzi scheme which supposedly stole $2.6 Million from clients, according to SEC Documents.
Paul Lee Moore Allegedly Siphoned Almost $2 million of Client Funds to Pay for Travel Expenses, Buy Retail Goods, and Finance the Use of Pornographic Websites
Paul Lee Moore and his Coast Capital Management have been charged by the SEC with allegedly stealing money from clients for personal use and conducting a Ponzi scheme to pay customers making redemption requests.
Moore allegedly siphoned nearly $2 million of client funds to pay travel expenses, buy retail goods, and fund his use of pornographic websites, according to SEC Documents being reviewed at the moment by Attorneys Joe Peiffer and Jason Kane.
The SEC Complaint further alleges that Moore used the remaining $625,000 in client funds to repay earlier clients with money from new clients in classic Ponzi scheme fashion. Moore then, the SEC reports, allegedly sent fake account statements to clients showing securities that he never purchased and attracted new clients when existing customers showed the statements to family, friends, and business associates.
Securities Lawyers Investigating
The Peiffer Wolf securities lawyers often represent investors who lose money as a result of Ponzi schemes, and they are currently investigating Paul Lee Moore and his Coast Capital Management. 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.
The securities lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, are investigating Paul Lee Moore and his Coast Capital Management, and may be contacted for a free, no-obligation evaluation of their recovery options, at 585-310-5140.