Salesman and Partners Charged with Ponzi Scheme

Posted on February 11th, 2014 at 9:00 AM

From the Desk of Jim Eccleston at Eccleston Law Offices:

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. 

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags:

Return to Archive

TESTIMONIALS

Previous
Next

I learned two important things working with Eccleston Law. First, I made a friend and ally with Jim and Steph for life. Secondly, and this is a crucial life lesson - if you need counsel, then seek out the very best. Jim was referred to me by a most trusted source. I've never had to hire an attorney for anything. Now, I know the value of hiring an important partner. Meticulous, thorough and detailed in preparation is the best way to describe Jim. Brilliant too, I might add. Bottom line, I would highly highly recommend Jim and Stephany for your legal needs. One of the best life decisions I've ever made.

Howard S.

LATEST NEWS AND ARTICLES

August 16, 2022
SEC Warns Financial Advisory Firms Regarding Conflicts of Interest Tied to Compensation

The Securities and Exchange Commission (SEC) has sent a warning to financial advisory firms that they must go above and beyond solely disclosing conflicts of interest related to employee pay programs in order to avoid regulatory scrutiny. 

August 15, 2022
FINRA Proposal Would Permit Private Homes to Serve as Non-Branch Offices

The Financial Industry Regulatory Authority (FINRA) has filed proposed changes to FINRA Rule 3110 with the Securities and Exchange Commission (SEC).

August 12, 2022
SEC Charges J.P. Morgan, UBS, and TradeStation for Deficiencies Pertaining to the Prevention of Customer Identify Theft

The Securities and Exchange Commission (SEC) has charged J.P. Morgan Securities, UBS Financial Services, and TradeStation Securities over deficiencies in their programs designed to prevent client identify theft, which violates the SEC’s Identity Theft Red Flags Rule, or Regulation S-ID.