Three Denver Men Sued In Pa. Ponzi Scheme Case

May 7 2012 | 2:47pm ET

Colorado regulators have accused three men of soliciting investments for a $17.6 million hedge fund Ponzi scheme on the other side of the country.

According to the state's banking and securities commissioner, Michael McNamara, Jon Peterson and John Staiano raised about $5.4 million for the Pennsylvania-based Life's Good Family of Funds. The only problem, according to the commissioner, Fred Joseph, is that Life's Good founder Robert Stinson, was a "securities fraud recidivist." He's now serving 33 years in prison for the Life's Good scam.

According to Joseph, the three men raised money for Life's Good from 2007 until its collapse in 2010.

Joseph's lawsuit names the three Denver men and their companies, Brentwood Equity Advisors, Sierra Capital Resources and Jomac. All three firms are also based in Denver.


In Depth

MiFID2 For U.S. Firms: Key Questions Answered

Feb 27 2017 | 4:54pm ET

The January 2018 deadline for implementation of the EU’s mammoth MiFID2 regulations...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

iCapital Network: The Trump Effect On Direct Lending

Feb 23 2017 | 4:21pm ET

The arrival of the Trump Administration has raised questions among private debt...

 

From the current issue of