Reed Slatkin Fraud Case

reed instrument Slatkin Fraud Case For my fraud moorage study, I chose to do it over Reed Slatkin for investment fraud. He was considered to be the perpetrator of the largest Ponzi avoidance in the United States since that conducted by Charles Ponzi himself. Slatkin was natural in Detroit, MI and was an initial investor and co-founder of EarthLink. Slatkin was also an decree Scientology curate and long clip supporter of the group, as were some of his victims. Reed Slatkin acted as an investment advisor for over 15 yearsin melodic phrase trading and money management. He rattling ran the company from his garage in his former home in Santa Barbara, California. During the 15 summation years, he invested millions and millions of dollars in behalf of hundreds of investors. In the latter(prenominal) part of 1999, Mr. Slatkin was actually investigated by the Securities and Exchange Commission(SEC). Mr. Slatkin was actually in the process of liquidating a lot of his investme nts made in behalf by his investors. In reality, Mr. Slatkin solicited millions of dollars from investors a contradiction of a statementmade to the SEC. During this time period, galore(postnominal) investors wanted fall backs of funds, however were met with lack of response from Mr. Slatkin.

roughly of the investors brought lawsuits to recover their investments and others threatened to file involuntary bankruptcy petitions against him, forcing him into bankruptcy. Mr. Slatkin give tongue to to both the investors and SEC that at that place were ample funds to return all investors monies. He guide everyone to believe that it was the European authorities that were holding up the retur n of the investments. Mr. Slatkin filed b! ankruptcy in May 2001 and at the aforementioned(prenominal) time the U.S. Securities and Exchange Commissionshut down Slatkins scheme by filing an enforcement effect and obtaining a temporary restraining commit freezing his remaining assets. The same day the FBI received attempt warrants relating to Slatkin. He was accused of defrauding investors turn out of nearly $600 million. He was also...If you want to get a to the full essay, order it on our website: OrderEssay.net

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