Investment Fraud in Illinois

Wednesday, February 25, 2009

Interesting read...

The Securities and Exchange Commission has taken emergency action against a private fund manager in Gilberts, Ill., alleging that he fraudulently obtained at least $10 million from approximately 300 investors and misappropriated the funds for personal use and to pay purported returns to investors.

The SEC alleges that Scott M. Ross was fraudulently soliciting investments since 2007 in three purported private investment funds that he managed. The SEC has obtained an emergency court order freezing Ross's assets and appointing a receiver.

More articles:
Scott Ross allegedly involved in Life Settlement Fraud
Elucido Fund LP frauded investors?