SEC Bars Advisor for Alleged Role in $15M Ponzi Scheme

Posted on November 4th, 2016 at 12:07 PM
SEC Bars Advisor for Alleged Role in $15M Ponzi Scheme

From the Desk of Jim Eccleston at Eccleston Law LLC

The SEC has barred the President, Treasurer, Chief Compliance Officer and shareholder of Veros Partners, Inc. named Matthew D. Haab, pursuant to Section 203(f) of the Advisors Act.

The SEC’s complaint alleged that in 2013 and 2014 Haab fraudulently raised at least $15 million in two separate farm loan private offerings from at least 80 investors. In turn, Haab used the money from the offerings to pay investors in other offerings.  Most of the victims were clients of Veros.

Haab was a registered investment adviser from July 2006 to December 2015. 

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of securities for financial advisors including breakaway broker servicesemployment mattersstrategic consulting and counselingbroker litigation and arbitration,whistleblower actions, 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, Eccleston Law LLC, James Eccleston, SEC, advisor, ponzi scheme, Veros Partners, Matthew D. Haab, investors,

Return to Archive

TESTIMONIALS

Previous
Next

We just wanted to say thanks for your work in helping us get back some of the money we lost. We are not by any means rich, but we have saved some money and we have done so through a tight-fisted approach to most everything we do. So losing a significant chunk of money hurt…especially at a time when everyone else was growing their accounts. We really appreciate the work you did.

Allan and Adele

LATEST NEWS AND ARTICLES

October 27, 2021
Former LPL Advisor Suspended For Completing 22 Trades Absent Client Consent

The Financial Industry Regulatory Authority (FINRA) has suspended and fined a former LPL advisor who allegedly completed 22 trades on behalf of a client without obtaining written consent. FINRA has issued a $5,000 fine and has suspended Michael Hartlett for 10 days.

October 26, 2021
Former Advisor Fails To Reverse Bar After Alleged $1 Million Theft From RBC

A former RBC Wealth Management advisor lost his bid to reverse an industry bar, according to an appellate decision issued by the Financial Industry Regulatory Authority (FINRA).

October 25, 2021
Firms Walk Thin Regulatory Line In Referring Self-Directed Clients To Advisors

While online trading platforms have surged in popularity during the pandemic, brokerage firms view self-directed investors as a source of new clients.