Tag: New Jersey Division of Consumer Affairs
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UPDATE: New Jersey Issues Investor Alert On ‘Profitable Sunrise’
New Jersey has joined numerous U.S. states in issuing an Investor Alert on the Profitable Sunrise HYIP “program.” Separately, Alabama has issued a cease-and-desist order. The state previously issued an Investor Alert. With New Jersey’s action, the unofficial total of U.S. states or Canadian provinces issuing Investor Alerts or cease-and-desist orders now stands at 25.…
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New Jersey AG Says Firm Was Running $40 Million Ponzi Scheme; Carr Miller Capital LLC’s Advisory Registration Revoked; Investigators Charge That Firm Used Millions To Buy Cars And Luxury ‘Sky Box’ For Hockey Games
KABOOM! Carr Miller Capital LLC, its associated advisory busineses and its principals have been stripped of their advisory registrations and charged in New Jersey with operating a Ponzi scheme that sold unregistered securities and gathered at least $40 million, state prosecutors said. At least $36 million of the $40 million came from individuals or IRAs…