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

You were most helpful with my FINRA deposition. You are a good lawyer and a good person.

Dan B.

LATEST NEWS AND ARTICLES

1773760408 Law
March 17, 2026
Bankruptcy Court Orders Emerson Equity to Produce Records in Inspired Healthcare Case

A federal bankruptcy court in Fort Worth has ordered Emerson Equity to produce documents connected to the sale of private securities issued by Inspired Healthcare Capital, according to InvestmentNews.

1773678753 Law
March 16, 2026
Concorde Investment Services Faces Scrutiny Over Sales of Inspired Healthcare Private Investments

Concorde Investment Services is facing increased scrutiny following the bankruptcy of Inspired Healthcare Capital, whose private investment offerings were widely sold through independent broker dealers, according to InvestmentNews.

1773412367 Law
March 13, 2026
Connecticut Advisor Pleads Guilty to Ponzi-Like Investment Fraud and Tax Evasion

Federal prosecutors announced that investment adviser John A.