Indiana Based Investment Advisory Firm Pleads Guilty to Investment Fraud

Posted on June 10th, 2015 at 4:39 PM
Indiana Based Investment Advisory Firm Pleads Guilty to Investment Fraud

From the Desk of Jim Eccleston at Eccleston Law LLC:

Veros Partners, an investment advisor located in Indiana, and its president Michael Haab, have been charged by the SEC for allegedly running a $15 million Ponzi scheme.

From 2013 to 2014, Habb allegedly mislead investors attempting to invest in farm loan venture securities, known as Veros Farm Loan Holding and FarmGrowCap. The SEC alleges that while Habb told investors the money would be used as short-term loans for farmers, it instead was funneled to cover back debts that farms owed. Furthermore, Habb is alleged to have paid himself more than $800,000 in undisclosed fees, and to have used $7 million from the fund to make payments to investors in separate offerings. In total, Habb owes nearly $9 million to investors in principal and interest.

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags: Eccleston Law LLC, James Eccleston, eccleston, Eccleston Law, veros partners, securities exchange commission, SEC, ponzi scheme,

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