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Commonwealth of Massachusetts Charges Advisor for Operation Ponzi Scheme

The Secretary of the Commonwealth in Massachusetts, William Galvin, charged Stephen Eubanks for engaging in a Ponzi scheme. Eubanks solicited customers to purchase shares of a fund he managed named "Eubiquity Capital Fund." According to authorities in Massachusetts, instead of investing customer monies in the Eubiquity Capital fund, Eubanks used the funds to pay his personal expenses and pay off earlier investors. All together Eubanks misappropriated $529,000 from investors to perpetrate the scheme.

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/20161101/FREE/161109990/adviser-allegedly-took-529000-from-investors-in-ponzi-scheme

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