Former Investment Adviser Representative Convicted of Orchestrating a $20 Million Dollar Ponzi Scheme

Posted on October 19th, 2018 at 3:12 PM
Former Investment Adviser Representative Convicted of Orchestrating a $20 Million Dollar Ponzi Scheme

From the Desk of Jim Eccleston at Eccleston Law LLC:

The U.S Attorney for Maryland has announced that former Washington D.C. investment adviser representative, Dawn J. Bennett has been found guilty of 17 federal charges, including conspiracy, securities fraud and bank fraud.

Bennett, a nationally recognized investment adviser representative and owner of Bennett Financial Group Services, had a syndicated radio show called “Financial Myth Busting with Dawn Bennett,” and appeared regularly as a guest on CNBC.

According to the U.S. Attorney for Maryland, between 2014 and 2017, Bennett raised more than $20 million from 46 investors by inducing her clients to invest in a sports apparel company she owned called DJB Holdings by promising annual returns of around 15%. However, Bennett did not invest her clients’ money as promised and she instead used the investor funds for her own personal expenses, including a luxurious lifestyle that featured jewelry, clothing, and a $500,000 annual lease on a luxury suite at the Dallas Cowboys’ stadium. Bennett covered her tracks by using new investor money to repay earlier investors, in a Ponzi-scheme like manner.

Last year, the SEC filed civil charges against Bennett and DJB Holdings for alleged securities violations in relation to the same Ponzi scheme.

Eccleston Law is investigating the fraudulent activities of Dawn J. Bennett. Those with information should contact our law firm.

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 investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, 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: james eccleston, eccleston law, eccleston law llc, eccleston, fraud, ponzi scheme, Dawn Bennett

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