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 Jason Kane.

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 Wolf Carr & Kane 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 Jason Kane.

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 Wolf Carr & Kane 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 Wolf Carr & Kane, Jason Kane or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at (585) 310-5140.

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In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.