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SEC charges Rockford with operating a $11m Ponzi scheme
 
  Hedgeweb - WED, DEC 09 2009
Funds & Investment Rockford Funding Group has been sued for carrying out an $11m Ponzi scheme.

The Securities and Exchange Commission alleges the firm made false and misleading statements between March-November 2009 to attract potential investors.

The company does business as Rockford Group, which misled investors about the nature of its business operations and failed to use investor funds as promised. The commission also alleges Rockford sent over $10.4 million to bank accounts in Hong Kong and Latvia.

 
 
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