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

Thank you for your professional assistance with this matter. You are very good at what you do.

John T.

LATEST NEWS AND ARTICLES

1775670322 Law
April 8, 2026
FinCEN Imposes $80 Million Penalty on Canaccord for AML Failures

The U.S.

1775574785 Law
April 7, 2026
SEC Charges Long Island RIA and Executives in $138 Million Private Fund Scheme

A Long Island-based registered investment adviser and two of its senior executives now face parallel civil and criminal proceedings tied to an alleged scheme involving conflicted private fund investments, as reported by InvestmentNews.

1775496481 Law
April 6, 2026
FINRA Arbitration Panel Orders Fidelity to Pay $1.3 Million Over Structured Product Disputes

A Financial Industry Regulatory (FINRA) arbitration panel has ordered Fidelity Brokerage Services to pay approximately $1.3 million to two groups of clients who alleged misconduct tied to structured product investments, according to ThinkAdvisor.