Tr?id=566623520170033&ev=PageView&noscript=1

SEC Charges Crew Capital Group and Estate of Steven Swensen Over Fraudulent Investment Scheme

Posted on October 28th, 2022 at 11:38 AM
SEC Charges Crew Capital Group and Estate of Steven Swensen Over Fraudulent Investment Scheme

From the Desk of Jim Eccleston at Eccleston Law.

The Securities and Exchange Commission (SEC) has charged Crew Capital Group and the estate of Stephen Swensen, who was formerly a financial advisor, for orchestrating a fraudulent investment scheme that generated nearly $29 million from at least 50 investors between 2011 and 2022.

Swensen, who passed on June 6, 2022, fraudulently convinced numerous individuals into investing in Crew Capital Group, according to the SEC. The SEC’s complaint alleged that Swensen falsely informed investors that Crew Capital was a fund co-managed by a well-known firm and guaranteed investors a minimum 5% annual return. Swenson further informed investors that annual returns could reach 10%, depending on the performance of the S&P 500 index.

However, Crew Capital, which was owned by Swenson, did not invest in any securities, according to the SEC. Instead, the SEC alleged that Swenson misappropriated nearly all investor funds to make Ponzi-style payments to earlier investors as well as to cover his own personal and living expenses. The SEC is seeking a permanent injunction against Crew Capital, as well as disgorgement from Crew Capital and Swenson’s estate.

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

Tags: eccleston, eccleston law, advisors, law, sec

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

 


It was really fun seeing you fight for us. You have an amazing way of thinking out of the box.


 

Beth M.

LATEST NEWS AND ARTICLES

1775060885 Law
April 1, 2026
Florida FINRA Arbitration Panel Orders Charles Schwab to Pay $3.8 Million to Investors

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Charles Schwab & Co.

1774973592 Law
March 31, 2026
Cybersecurity Breach at Edelman Financial Engines Highlights Growing Risks for Advisory Firms

A recent cybersecurity incident involving Edelman Financial Engines has drawn attention to the increasing number of cyberattacks targeting registered investment advisers, according to Financial Advisor News.

1774884494 Law
March 30, 2026
SEC and CFTC Plan Coordinated Examinations and Enforcement Efforts

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) plan to coordinate examinations and enforcement actions involving firms that fall under both agencies' jurisdiction, signaling a renewed effort to streamline regulatory oversight, according to AdvisorHub.