California Investment Adviser Arrested And Charged With $7 Million Ponzi Scheme

Six months after he filed for bankruptcy, a California investment adviser was arrested and is now facing civil and criminal charges accusing him of operating a $7 million Ponzi scheme that pitched investments in an organic beef ranch, housing projects, and a marijuana cultivation plan. Christopher Dougherty, 45, was arrested by California state authorities yesterday morning on charges of grand theft, elder abuse, and securities fraud and was also the subject of a complaint filed today by the Securities and Exchange Commission accusing him of violating federal securities laws. As of yesterday, Dougherty was being held on $5 million bond.Dougherty has been in the financial services industry since 1998 as both a registered representative and an investment adviser, acting after 2012 solely as an investment adviser. Dougherty owned and operated several businesses, including C&D Professional Services, Inc. d/b/a C&N Wealth Management (“C&D”), JTA Farm…

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