Castleberry Financial Services Group | Fraud Charges

Castleberry Financial Services Group, Investment Losses According to a press announcement on February 20, 2019, the Securities and Exchange Commission reportedly announced fraud charges and an asset freeze against the operators of Castleberry Financial Services Group, a South Florida-based investment fund scheme. The SEC reportedly filed an emergency action in federal district court against Castleberry Financial Services Group LLC, and president and the CEO, alleging that in the past year they have defrauded investors out of $3.6 million. The SEC alleges in its complaint that Castleberry falsely represented to investors it had hundreds of millions of dollars in capital invested in local businesses and a portfolio of hundreds of investment properties. Castleberry purportedly claimed to offer high yields while protecting investors’ principal by having it “fully insured and bonded” by CNA Financial Corp. and Chubb Group, when the insurance companies did not have…

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