SEC Charges John A. Geringer in Alleged $60 Million Ponzi Scheme
John A. Geringer, of Scotts Valley, California, has been charged by The Securities and Exchange Commission (SEC) with running an alleged $60 million investment fund in Ponzi scheme fashion, and also with defrauding investors by trumpeting fictitious trading profits, instead of reporting the cold hard facts, and the actual trading losses which had been incurred whilst he ran GLR Growth Fund.
Geringer Allegedly Used Misleading Marketing Materials
The SEC alleges that John A. Geringer, who managed the GLR Growth Fund, used false and misleading marketing materials to lure investors into believing that the fund was earning double-digit annual returns with a formula of investing 75 percent of its assets in investments tied to major stock indices, such as the DOW Jones or S&P 500.
In actuality, Geringer’s trading practices reportedly produced consistent losses and he eventually stopped trading all together. To camouflage his fraud, Geringer reportedly paid millions of dollars in “returns” to investors largely by using money received from newer investors, which is a telltale sign of any Ponzi scheme. He also allegedly sent investors periodic account statements showing fictitious growth in their investments.
Christopher Luck and Keith Rode Also Indicted on Alleged Fraud Charges
Christopher Luck, also of Scotts Valley, California, and Keith Rode of Franklin, Wisconsin, were also indicted by the SEC on alleged fraud charges. The triumvirate of Geringer, Rode, and Luck were former partners in an enterprise called Geringer, Luck and Rode LLC, that operated an investment fund called GLR Growth Fund. The trio is accused of allegedly obfuscating more than half of more than $60 million in investments to themselves and companies of personal interest.
Investment Recovery Lawyers Investigating
The Peiffer Rosca Wolf investment recovery lawyers often represent investors who lose money as a result of Ponzi schemes or 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 Ponzi schemes or investment fraud may contact the investment recovery lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.
Broker: John A. Geringer
Status: INVESTIGATED by Peiffer Rosca.
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