South Carolina man operated sham companies to ‘spend off a lifestyle,’ SEC says – WYFF4 Greenville.
An Upstate man who worked for the Securities and Exchange Commission made fraudulent calls and used the money to finance his lifestyle, officials said. The SEC announced charges Tuesday against Michael J. French, of Pendleton, and two companies controlled by him, MJF Holdings. , LLC (“MJF Holdings”) and MJF Capital, LLC (“MJF Capital”), for investor fraud and abuse of millions in investment funds. According to the SEC complaint, French, through MJF Holdings, sold more than $20 million in larges. to yield promising notes to over 400 investors throughout the country. The complaint alleges that Gallos falsely told investors that the notes – promised a 12% return for a one-year investment – were backed by a low-risk investment program, under which the notes would be credited to small business and/or commercial investments. loans on a fractional basis to produce income. Complaints also assert that French loans selected for investment to withdraw promissory notes are strictly underwritten, and thus there is little risk to the investment. According to the SEC’s complaint, the lending program was a sham, and Franks took the money he had borrowed. to repay previous investments and establish an expensive lifestyle. The complaint also asserts that the French were last seen missing and had stopped communicating with the hostages. The complaint, which was filed in the United States District Court for the Northern District of Georgia, charges French and MJF Holdings with violations of the registration provisions of Section V of the Securities Act of 1933 and the Antifraud Provisions of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Act. Exchange Act of 1934 and Rule 10b-5 therein. The complaint accuses MJF Capital of aiding and abetting French and MJF Holdings’ alleged fraud. The complaint also names in support of the defendants seven other entities allegedly controlled by the French. The SEC is seeking permanent injunctive relief, hardship, accounting, and dissolution from all ill-gotten gains plus damages and civil penalties, the SEC investigation was conducted by Grant Mogan, Andrew D. Mason and Tiffany Kunkle. Taryn Hairston, all of the Atlanta Regional Office, was supervised by Thomas B. Bosch and Justin C. Jeffries. The suits are handled by Kristin Murnahan and Graham Loomis. A background check conducted by WYFF News 4 showed that French was also arrested in Lee County, Florida, on March 6, according to the Lee County Sheriff’s Office website, French faces a misdemeanor aggravated assault charge. , written in terror / elec threat to kill another with bodily harm, obstructing justice and fraud. The report also said the woman had received a subpoena as part of an active investigation by the US Securities and Exchange Commission (SEC) in which French was listed on suspicion of fraud.
An Upstate man who worked for a Securities and Exchange Commission loan company called it a fake and used the money to fund a lavish lifestyle for officials.
The SEC announced charges Tuesday against Michael J. French, of Pendleton, and two companies controlled by him, MJF Holdings, LLC (“MJF Holdings”) and MJF Capital, LLC (“MJF Capital”), of defrauding investors and misappropriating millions. investor money
according to the SEC complaintIn France, through MJF Holdings, it sold more than $20 million in high-yield promissory notes to over 400 investors across the country.
The complaint alleges that Gallos falsely told investors that the notes – promised a 12% return for a one-year investment – were backed by a low-risk investment program, under which the notes would be credited to small business and/or commercial investments. loans on a fractional basis to produce income.
Complaints also assert that French loans selected for investment to reduce promissory notes are strictly underwritten and thus invested with minimal risk.
According to the SEC’s complaint, the lending program was fraudulent, and French used money to pay off former investors and spend on a lavish lifestyle.
The complaint also states that the French failed in the last note and stopped communicating with the hostages.
The complaint, filed in the United States District Court for the Northern District of Georgia, charges French and MJF Holdings with violations of the registration provisions of Section 5 of the Securities Act of 1933 and the provisions of Section 17(a) of the Securities Act. Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.
The complaint accuses MJF Capital of aiding and abetting French and MJF Holdings’ alleged fraud.
The complaint also names in support of the defendants seven other entities allegedly controlled by the French.
The SEC seeks permanent injunctive relief, liquidation, bankruptcy, and liquidation of all ill-gotten gains plus prejudgment interest, and a civil penalty.
The SEC’s investigation was conducted by Grant Mogan, Andrew D. Mason and Tiffany Kunkle, assisted by Taryn Hairston, all of the Atlanta Regional Office, led by Thomas B. Bosch and Justin C. Jeffries.
Litigation is handled by Kristin Murnahan and Graham Loomis.
A background investigation conducted by WYFF News 4 showed French was also in Lee County, Florida, on April 6.
According to the Lee County Sheriff’s Office website, French faces charges of criminal mischief, written/electronic threats to kill another with bodily harm, obstruction of justice and fraud.
Police report It is said in French that you met a fat woman through TikTok.
The report also said the woman had received a subpoena as part of an active investigation by the US Securities and Exchange Commission (SEC) in which French was listed on suspicion of fraud.
