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

Hiring Eccleston Law has been one of the best career decisions I have made and this "investment" to maintain my sterling regulatory record has been returned many times over.  If you are in a situation where you've been unfairly accused, don't hesitate to talk with Eccleston Law. They are the best.

Thomas C.

LATEST NEWS AND ARTICLES

1778997041 1772158975 1744208044 521862 Chicago Skyline Reimagined
May 15, 2026
FINRA Suspends Former Merrill Broker for Misrepresentations in Proof of Funds Letters

FINRA has disciplined a former Merrill Lynch representative after determining that he issued inaccurate and misleading statements about a client’s financial ability to complete a home purchase.

1778685786 Law
May 13, 2026
FINRA Fines J.P. Morgan Securities $3.25 Million Over Supervisory Failures in High-Risk Strategy

The Financial Industry Regulatory Authority (FINRA) has sanctioned J.P.

1778601835 Law
May 12, 2026
UBS Shifts SMA Oversight In-House, Discloses Potential Conflicts

UBS Wealth Management USA has begun restructuring how it manages separately managed accounts ("SMAs"), moving key oversight functions in-house and aligning its model more closely with competitors, according to reporting by AdvisorHub.