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

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...