Timothy J. Coughlin and Oxford International Credit Union Accused of Orchestrating a Ponzi Scheme

Timothy J. Coughlin, Oxford International Credit Union, and Oxford International Cooperate Union are accused of conducting a Ponzi scheme that involved 5,000 investors who invested over $12 million, according to complaint filed by the Securities and Exchange Commission (“SEC”).

Coughlin and Oxford International Credit Union, using the website www.oxfordicu.com, collected deposits from more than 5,000 investors exceeding $12.8 million between June 2007 and December 2009, according to the complaint. Coughlin began operating a successor to Oxford International Credit Union, called Oxford International Cooperative Union, using the website www.oxfordprivacygroup.com, according to the SEC.

Coughlin, Oxford International Credit Union, and Oxford International Cooperate Union defrauded investors into believing that the money they deposited into their accounts would be pooled with other investors’ funds and invested by Coughlin in high-yield investments on behalf of all members, according to the complaint.

Unfortunately for investors, the credit union was fake, and Coughlin and the Oxford International entities did not make investments with the investors’ deposits sufficient to generate the high returns that were advertised, according to the SEC.

Coughlin and the Oxford International entities provided members with false information in the investors’ online accounts to create the appearance that their deposits were earning exorbitant daily investment returns, according to the complaint.

Coughlin misappropriated at least $5.97 million from Oxford International Credit Union and Oxford International Cooperate Union members, using investor money for illegitimate purposes, including personal expenditures and to make payments to other investors, according to the complaint.

The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. 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 investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1247 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.

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.