Publicly available records published by the Securities and Exchange Commission (SEC) and accessed on April 4, 2019 indicate that the SEC has filed charges against California-based investment adviser Carol Pedersen in connection with allegations she stole “millions of dollars from investors to perpetrate a Ponzi scheme.” Ms. Pedersen has accepted the entry of a judgment involving her consent to injunctive relief and disgorgement, according to the SEC, and is anticipated to enter a guilty plea. According to the SEC’s complaint, Carol Pedersen is a former certified public accountant (CPA) and an unregistered investment adviser who represented to 25 investors that she would invest their funds in securities and raised $29 million or more doing so. Despite her promise that she would invest their funds in “‘federally guaranteed’ securities with returns typically greater than 8%,” according to the SEC, she directed about $25.6 million of the…
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