Salesman and Partners Charged with Ponzi Scheme
The SEC accuses Rudolf D. Pameijer, an insurance salesman, Lindsay R. Sayer, Ryan W. Koester and his entity Rykoworks Capital Group, LLC (“Rykoworks”)with stealing nearly $1.7 million from investors in a fraudulent investment scheme.
Beginning in 2010, Pameijer and his daughter, Sayer, began soliciting clients to invest with Rykoworks. The majority of funds they raised from investors were misappropriated by Pameijer and Sayer for personal use, and the remaining funds were transferred to Koester and Rykoworks. Clients were told that Koester was an expert foreign currency trader, and that his unique trading strategy could provide investors a principle guaranteed investment opportunity. However, investor funds are depleted through trading losses and misused for personal expenditures by Koester.
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