SEC Charges Denver Real Estate Developer with Securities Fraud

Posted on September 6th, 2022 at 12:53 PM
SEC Charges Denver Real Estate Developer with Securities Fraud

From the Desk of Jim Eccleston at Eccleston Law.

The Securities and Exchange Commission (SEC) has charged a Denver real estate developer, WDC Holdings LLC, as well as its owner, Robert Watson, for allegedly misrepresenting their investments in securities offerings to fund ten distinct real estate projects.

Watson and WDC Holdings raised nearly $49.5 million from at least 350 investors via sales of securities to fund several commercial real estate initiatives, according to the SEC. The SEC alleged that Watson and WDC Holdings informed investors that they would personally invest 4% to 5% of the required equity, which would have totaled nearly $2.8 million.

However, Watson and WDC Holdings invested only a small fraction of the promised amount, and the SEC alleged that Watson’s false statements were important to investors. The SEC is seeking permanent injunctions, disgorgement with prejudgment interest, as well as civil penalties against Watson and WDC Holdings.

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

Tags: eccleston, eccleston law, real estate, sec

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