Sherman C. Vaughn Jr.—Investment Fraud
Sherman C. Vaughn Jr. Allegedly Defrauded Investors as Part of a $9 Million Midlothian Investment Scheme
Sherman C. Vaughn Jr., of Blackstone, Virgina, apparently used his football connections in the state of Virginia to allegedly operate a $9 million dollar Midlothian investment scam along with Merrill Robertson, Jr., according to Documents from the U.S. Attorney’s Office currently under review by attorneys Jason Kane and James Booker.
Sherman C. Vaughn Jr. and Merrill Robertson Jr., between 2009 and 2016, allegedly persuaded over 50 investors to put their hard-earned cash into Midlothian-based firms Cavalier Union Investments and Black Bull Wealth Management, said U.S. Attorney’s Office Documents state.
The Peiffer Wolf Carr & Kane securities lawyers are currently investigating Sherman C. Vaughn Jr. and Merrill Robertson Jr.’s alleged Midlothian investment scam.
Robertson and Vaughn Allegedly Operated a Ponzi Scheme, Never Informing Investors of Commissions and Fees and that Investor Money was Purportedly Used for Personal Expenses and to Pay Other Investors
Sherman C. Vaughn Jr. and Merrill Robertson Jr. allegedly ran what the SEC claims is a “Ponzi-like scheme” by purportedly using investor money to pay new investors with cash from older investors, according to FINRA Documents currently under review by attorneys Jason Kane and James Booker.
In addition, Vaughn and Robertson also used investor money for personal expenses including mortgage and car payments, school tuition, spa trips and vacations, said Documents also report.
Finally, Robertson and Vaughn also allegedly misled investors by claiming to offer exact rates of returns and that they were experienced investment advisors, according to Documents from the U.S. Attorney’s Office.
Securities Lawyers Investigating
The Peiffer Wolf Carr & Kane securities lawyers often represent investors who lose money as a result of alleged securities fraud scams and are currently investigating Sherman C. Vaughn Jr. and Merrill Robertson Jr. ‘s alleged Ponzi 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 Sherman C. Vaughn Jr. and Merrill Robertson Jr. ‘s alleged Ponzi scheme may contact the securities lawyers at Peiffer Wolf Carr & Kane, Jason Kane or James Booker, for a free no-obligation evaluation of their recovery options, at (585) 310-5140.