SEC Charges Four Individuals Involved In Fraudulent Scheme Targeting Retirees

Posted on April 15th, 2022 at 1:13 PM
SEC Charges Four Individuals Involved In Fraudulent Scheme Targeting Retirees

From the Desk of Jim Eccleston at Eccleston Law:

The Securities and Exchange Commission (SEC) has charged Julie Minuskin, Dennis DiRicco, Tom Casey and Golden Genesis, Inc. with defrauding investors with their sales of high-yield promissory notes primarily to retirees.


The SEC additionally charged Minuskin and Joshua Stoll with acting as unregistered broker-dealers. According to the SEC’s complaint, Retire Happy LLC, a firm owned by Minuskin and Stoll, engaged in the selling of unregistered high-yield promissory notes issued by corporate borrowers. The SEC alleged that Minuskin and Stoll falsely touted the safety of the investments for retirees despite Minuskin’s knowing that certain issuers of the notes were using new investor funds to pay returns to earlier investors. Neither Minuskin nor Stoll were licensed as or operated a broker-dealer while selling the notes to investors, according to the SEC.


Casey, principal of Golden Genesis, and DiRicco, owner of Until Tomorrow Drivetrains, allegedly conducted an unregistered and fraudulent offering by issuing notes to be sold by Retire Happy, according to the complaint. The SEC’s complaint alleged that they misappropriated investor funds to make Ponzi-style payments to earlier investors. The SEC further alleged that Minuskin aided and abetted DiRicco and Casey in their fraudulent activity.


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

 
 

Tags: eccleston law, sec, defrauding

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