Ralph Johnson and American Growth Funding II LLC—Investment Fraud
Ralph Johnson and American Growth Funding II LLC Allegedly Raised Approximately $8.6 Million from Investors; Allegedly Claimed AGF II Financial Statements Had Been Audited with Knowledge that This Was False
American Growth Funding II LLC, from March 2011 through December 2013, allegedly raised approximately $8.6 million from investors in a private placement offering, according to an SEC Complaint currently under review by attorneys Jason Kane and Joe Peiffer.
Ralph Johnson, CEO of Manhattan-based American Growth Funding II LLC, allegedly knew that AGF II represented in offering documents that its financial statements had been audited and would continue to be audited each fiscal year, said SEC Complaint reports. The SEC Complaint also alleges that no audit of AGF II’s financials have occurred until 2014.
The Peiffer Wolf Carr & Kane securities lawyers are currently conducting an investigation into Ralph Johnson and other investment professionals who sold American Growth Funding II LLC to the investing public.
Ralph Johnson Allegedly Sent Out Monthly AGF II Account Statements to Investors that Hid “the Precariousness of Its Business”; AGF II Allegedly Failed to Disclose it Could Not Pay Investors Their Stated Account Balances
Ralph Johnson allegedly caused AGF II to send out monthly account statements to investors that cloaked “the precariousness of its business”, according to the aforementioned SEC Complaint presently being reviewed by attorneys Jason Kane and Joe Peiffer.
Furthermore, AGFII allegedly failed to disclose that it could not have possibly paid investors their stated account balances as the majority of AGF II’s loans were likely uncollectible at the time, said SEC Complaint notes.
Finally, AGF II’s placement agent Portfolio Advisors Alliance and its owner Howard Allen and president Kerri Wasserman allegedly were aware that the offering documents were not accurate, but that Wasserman allegedly took no action and AGF II brokers continued using misleading documents to solicit investors, the aforementioned SEC Complaint reports.
Securities Lawyers Investigating
The Peiffer Wolf Carr & Kane securities lawyers are currently investigating Ralph Johnson and other investment professionals who sold American Growth Funding II LLC to the investing public. 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 Peiffer Wolf Carr & Kane securities lawyers are currently investigating Ralph Johnson and other investment professionals, such as Howard Allen and Kerri Wasserman, who sold American Growth Funding II LLC to the investing public. Investors who believe they lost money as a result of any of the aforementioned investment professionals and their sales of American Growth Funding II LLC may contact the securities lawyers at Peiffer Wolf Carr & Kane, Jason Kane or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at (585) 310-5140.