C&D Professional Services Advisor Running a Ponzi Scheme
The Securities and Exchange Commission has charged San Diego investment advisor, Christopher D. Dougherty, with defrauding clients out of $7 million while operating a Ponzi scheme under his firm C&D Professional Services.
Facts of the Case
According to the SEC complaint, Dougherty and his firm C&D Professional Services duped 50 clients into investing money into tax-free private placements that touted a quarterly return of 5 percent.
However, the SEC asserts that there were no such private placements. In actuality, Dougherty used the investment money to pay for personal expenses. He also took the money he received from new clients to pay “dividends” to earlier clients – a hallmark of a Ponzi scheme.
Further, he offered clients the opportunity to invest in his real estate and farm businesses, which he then commingled with the other investment funds he received and operated as a part of the fraud scheme.
Dougherty Not a First Time Offender
According to the complaint, Dougherty has been charged with violating various anti-fraud regulations. In 2012, Dougherty pled guilty to fraudulent misappropriation from a charitable organization.
Speak with an Investment Fraud Attorney
Our AV-rated* securities fraud lawyers have extensive experience litigating a broad range of investment disputes, including those related to Ponzi schemes. We will aggressively pursue claims against culpable parties to recover your losses from misconduct.
If you are looking for a Ponzi scheme attorney to review your rights and options, the Ponzi scheme lawyers at Dimond Kaplan & Rothstein, P.A. have a proven track record of getting results for clients.