{"id":73611,"date":"2020-04-01T03:22:04","date_gmt":"2020-04-01T07:22:04","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=73611"},"modified":"2020-04-03T00:19:56","modified_gmt":"2020-04-03T04:19:56","slug":"judgment-obtained-against-promoter-who-fraudulently-raised-3-million-for-christian-concerts","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/04\/2020\/judgment-obtained-against-promoter-who-fraudulently-raised-3-million-for-christian-concerts.html","title":{"rendered":"Judgment Obtained Against Promoter Who Fraudulently Raised $3 Million for Christian Concerts"},"content":{"rendered":"<p>(HedgeCo.Net) A final judgment has been obtained against promoter Jeffrey E. Wall, of Freeport, Maine, and his business, The Lighthouse Events LLC. <\/p>\n<p>The SEC charged Wall and Lighthouse in April 2019 with operating an egregious community-based financial fraud related to Christian music concerts and festivals. The judgment finds Wall and Lighthouse liable for fraudulently raising more than $3 million in unregistered offerings from approximately 145 investors, many of whom shared Wall\u2019s religious views. Wall had promised investors that their funds would be used solely to promote and host Christian music concerts and festivals and that their investments were \u201csecured\u201d and \u201cguaranteed.\u201d In reality, Wall and Lighthouse used investor funds for a variety of other expenses, including payment of Lighthouse\u2019s existing debt and payments to earlier investors. <\/p>\n<p>\u201cWe naturally tend to trust those who share religious or cultural affiliations, but this can leave people vulnerable to investment fraud,\u201d said Paul Levenson, Director of the SEC&#8217;s Boston Regional Office. \u201cWe encourage investors to understand the important details of the investment, such as the use of funds and the risk of loss.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(HedgeCo.Net) A final judgment has been obtained against promoter Jeffrey E. Wall, of Freeport, Maine, and his business, The Lighthouse Events LLC. The SEC charged Wall and Lighthouse in April 2019 with operating an egregious community-based financial fraud related to [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3,16048],"tags":[],"class_list":["post-73611","post","type-post","status-publish","format-standard","hentry","category-hedgeco-networks-press-releases","category-hedgeco-news","category-hedgecovest-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/73611","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=73611"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/73611\/revisions"}],"predecessor-version":[{"id":73612,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/73611\/revisions\/73612"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=73611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=73611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=73611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}