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



If you find yourself in trouble with the regulators, call Eccleston Law, you won't regret it.

Rick R.


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.

August 11, 2022
FINRA Suspends Former Schwab Advisor for Failing to Disclose Felony Charges

The Financial Industry Regulatory Authority (FINRA) has suspended a former Charles Schwab advisor who allegedly failed to disclose multiple felony charges.

August 10, 2022
UBS Wealth Group’s Legal Costs Skyrocket in Q2

UBS Wealth’s litigation expenses have substantially spiked in the second quarter as the firm has faced a host of investor complaints and regulatory probes into UBS’ volatile Yield Enhancement Strategy (YES).