Richard Clatfelter, Executive Vice President of Marquis Properties, LLC— Investment Scheme, Ponzi Scheme
Richard Clatfelter, Executive Vice President of Marquis Properties, LLC Allegedly Operated a “Turnkey” Real Estate Ponzi Scheme Which Allegedly Never Revealed that Properties Were Not owned by Marquis, Were Substantially Encumbered, or were in Uninhabitable or Blighted Condition
Richard Clatfelter, Executive Vice President of Marquis Properties, LLC, allegedly represented that investments with Marquis were “safe, low-risk, or risk-free” because the investment proceeds were to be secured by a first deed of trust on property wholly owned by Marquis and that the investments would be “over-collateralized”, according to a recent SEC Complaint currently under review by attorneys Joe Peiffer and Alan Rosca.
Clatfelter, however, according to the SEC, never told investors that the properties offered as collateral allegedly were often not owned by Marquis, were substantially encumbered, or were in uninhabitable or blighted condition, the SEC reported.
The Peiffer Rosca Wolf securities lawyers are currently investigating Richard Clatfelter and his alleged Ponzi scheme.
Clatfelter and Marquis Properties, LLC also Allegedly Did Not Tell Investors that the Company Was Insolvent and Unable to Make Payments to Investors without the Influx of New Investor Money
Clatfelter also allegedly don’t tell their investors that the company itself is insolvent and unable to make payments to its investors without the influx of new investor money, according to a recent SEC Complaint presently being reviewed by attorneys Joe Peiffer and Alan Rosca.
The SEC Complaint goes on to state that, “because investors are being repaid from new investor funds, Marquis’ operation is a classic Ponzi scheme.”
Finally, Clatfelter has been notified that the SEC has obtained an asset freeze and other ancillary relief against Marquis Properties and is seeking injunctive relief, disgorgement, prejudgment interest, and civil money penalties from Marquis and Clatfelter, the SEC notes.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of Ponzi schemes, and are currently investigating Richard Clatfelter’s alleged real estate investment 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 Richard Clatfelter’s alleged Ponzi scheme may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 888-998-0520.