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Chicago Advisor Earns Millions from Eight Year Ponzi Scheme

Chicago advisor Neal Goyal and his investment firms Caldera Advisors, LLC and Blue Horizon Asset Management, LLC are facing fraud charges after allegedly operating a Ponzi scheme. According to the SEC, Goyal falsely told investors that all of their money would be placed into funds that were invested in stocks. Goyal provided investors with false account statements and used new investor money to pay the older investors. An Investment News article reports that Goyal had accepted $11.4 million from 35 clients. He allegedly used the money on personal items including luxury cars, two homes and his wife's business ventures.

If you believe you have been victimized by securities fraud, financial malpractice, or theft by a FINRA registered broker, please call the securities attorneys of the Costello Law Group at (877) 418-0003 for a free consultation.

To read more, please visit: http://www.investmentnews.com/article/20140528/FREE/140529920

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