SEC Charges Former Financial Adviser with Fraud

Posted on August 31st, 2017 at 11:15 AM
 SEC Charges Former Financial Adviser with Fraud

From the Desk of Jim Eccleston at Eccleston Law LLC:

The SEC has charged former Washington D.C. financial adviser, Dawn J. Bennett with defrauding investors and spending their money on herself and to make Ponzi-like payments to earlier investors in the alleged scheme. Bennett’s sports apparel firm, DJB Holdings, LLC was also charged by the SEC.

More specifically, according to the SEC, Bennett raised more than $20 million by selling notes issued by her DJB Holdings, and by exaggerating the safety of the notes and the success of her firm. Moreover, Bennett touted her company’s profitability by promising that it would pay annual returns as high as 15 percent. However, Bennett instead used the investor funds for her own personal expenses and used other funds to repay earlier investors.

In addition to the SEC charges, the U.S. Attorney's Office for the District of Maryland has brought criminal charges against Bennett.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial advisors including Broker Litigation & ArbitrationStrategic Consulting ServicesRegulatory  MattersTransition Contract Review, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: Eccleston, Eccleston Law, James Eccleston, Eccleston Law LLC

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