SEC Charges Carol Pedersen in Alleged Ponzi Scheme

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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