Three Individuals Charged With Falsifying Records in Connection with Investment Adviser Ponzi Scheme

Posted on March 17th, 2020 at 1:29 PM
Three Individuals Charged With Falsifying Records in Connection with Investment Adviser Ponzi Scheme

From the Desk of Jim Eccleston at Eccleston Law LLC:

The SEC charged three individuals who, during their course of their employment, falsified and withheld documents that were requested by staff of the SEC during an ongoing investigation.

Stacy Beane of Florida, Justin Deckert of Virginia, and Travis Laska of North Carolina helped conceal a fraudulent offering of more than $10 million in promissory notes by Stephen C. Peters, the owner and principle of VisionQuest Wealth Management, LLC, to Peter’s advisory clients. The SEC charged Peters and his companies based on the same misconduct in a prior suit. Peters was convicted in the criminal case of twenty counts, including counts alleging investment advisor fraud, fraudulent sale of unregistered securities, mail and wire fraud, and falsification of documents provided to the SEC. In addition, Beane and Laska used keyword searches provided by Peters to identify certain responsive emails that should be withheld from the production to the SEC.

The three allegedly fabricated documents to suggest that Peters disclosed potential conflicts of interest to VisionQuest’s compliance officer. The group also altered other documents to make certain clients appear to be accredited investors. Beane, Deckert, and Laska forged or backdated client signatures on various agreements, all of which they knew would be turned over to the SEC. They are being charged with aiding and abetting VisionQuest’s violations of the books and records provisions.  Deckert consented to a judgment that enjoins him aiding and abetting and orders him to pay a $30,000 penalty. He also consented to an order barring him from association with any broker, dealer, or investment adviser, with the right to apply for reentry after five years.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: eccleston, eccleston law, james eccleston, ponzi scheme, falsifying records, investment adviser, sec

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