Seattle Broker Pleads Guilty to Ponzi Scheme

Posted on July 28th, 2014 at 9:02 AM

From the Desk of Jim Eccleston at Eccleston Law Offices:

Dennis Daugs Jr., who was the managing director of a Seattle advisory firm, Lakeside Capital Management, used assets from the portfolio of a senior citizen client to fund $3.1 million in personal loans without obtaining the client’s consent. Daugs made loans to himself to buy a luxury vacation home and refinance a rare vintage automobile.

Daugs also improperly directed an investment fund managed by his firm to make more than $4.5 million in loans and investment purchases to facilitate personal real estate deals and fend off claims from discontented Lakeside Capital clients.

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

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